United Kingdom-based private equity firm Platina Partners LLP sold five of its wind farms to an investor, sources said. Plantina currently holds an estimated Eur500 million or $659 million worth of equity under its wing. The investor was not named by the company.
The retail included a 20-megawatt farm called Burton Wold, 15-megawatt Garves plant, a farm in Milton Keynes, one in Pates Hill (both have 14-megawatts), and the smaller Winscales Moor which 6-megawatts. The list was provided by the company through e-mail. There were no financial terms disclosed in the sale.
The sale culminatied Platina Partners' Mistral Windfarm 1 fund which was initiated back in 2005. The said investment fund was to be used as capital for projects involved in wind energy. The investees were projects mainly located in the United Kingdom and parts of France. The said fund also provided a gross internal return rate of more than 40 percent for its investors, said the investment firm.
Platina have plans to spend its remaining funds in new ventures and acquisitions.
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