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Resonance Asset Management has announced the completion of the acquisition of four operating wind farms by the Resonance British Wind Energy Income Fund. This takes total assets raised to US$ 100 million.
The fund is consolidating the fragmented ownership of operating small and medium-sized wind farms in the UK with generating capacity of 2MW to 10MW. The Fund, advised by Resonance, is ungeared and pays out all generated income to investors. The Fund’s investors are pension funds, both corporate and local government, insurance funds and family offices. The investors reside in the UK and Europe, with a concentration in the Nordic region. Bettyhill Wind Farm, the first acquisition, has a capacity of 6MW, made up of two 3MW Enercon E-82 E3 turbines. The 11MW portfolio, the second acquisition, comprises five turbines across three industrial sites. Workington Energy Limited is based on the Eastman Chemical site in Cumbria. It consists of two REpower MM82s and has a capacity of 4MW. Newport Wind Direct Limited is located on the Eastman Chemical site in Newport and has a capacity of 5MW, from two Nordex N90s. Garstang Wind Direct Limited is situated at the Dewlay Cheese Factory in Lancashire and consists of one REPower MM82, giving it a capacity of 2.05MW.
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