Port of Tilbury Wind farm

Port of Tilbury Wind farm

SEP fund acquires Port of Tilbury windfarm

Scottish Equity Partners (SEP) has completed a further clean energy infrastructure investment to fund the acquisition of the 9.2MW onshore wind farm at the Port of Tilbury, from SSE plc.

Tilbury is London's major port, providing fast, modern distribution services to the south east of England.

The port is the largest port of Scottish-based Forth Ports Group and is a dynamic and diverse port, handling the full range of cargoes with specialist expertise in the handling of paper and forest products, containers, Ro Ro, grain and bulk commodities and construction and building materials.

SEP made the investment through its Environmental Capital Fund (ECF) which is targeted at infrastructure projects in the energy sector.

The wind farm comprises four 2.3MW, 80 metre hub height, Siemens SWT turbines which have been operating continually since the windfarm was commissioned in 2013.

Together they generate sufficient renewable energy to cover 50% of the electricity demand of the port.  Financial terms of the acquisition are not disclosed.

The wind farm benefits from a long-term Power Purchase Agreement with 100% of the renewable power generated being acquired by the Port of Tilbury London Limited. 

A comprehensive service and maintenance contract for the turbines has been agreed with industrial conglomerate Siemens AG.

In addition, SgurrEnergy, the renewable energy consultancy and part of the Wood Group, has been appointed as asset manager and will lead the operational and financial management of the wind farm alongside SEP’s in-house infrastructure asset management team. 

This transaction is the second wind farm investment to be completed by SEP’s infrastructure team in recent weeks.  It was announced earlier in June that ECF had provided equity funding for the construction of the €8.7m, 4.6MW Curraghderrig wind farm in the Republic of Ireland.

Verena Rathgeber, a principal in SEP’s infrastructure team said: “Port of Tilbury is a high quality operating windfarm and securing this asset marks a significant milestone for the Environmental Capital Fund towards meeting its objective of owning and operating a platform of high quality wind assets across the UK and Ireland. 

"We are looking forward to working with Siemens and SgurrEnergy to ensure continued and consistent delivery of renewable energy to the Port of Tilbury.”

Robbie Gibson, director of asset management at Wood Group – clean energy, said: “We are delighted to be working with the infrastructure team at Scottish Equity Partners on the acquisition and asset management of the Port of Tilbury Wind Farm.”

He continued: “As part of our scope of work, we undertook technical due diligence and an operational energy yield, advising SEP pre-acquisition. Having been awarded the asset management contract we now look forward to supporting the project with our experienced asset management team and applying our asset optimisation expertise to the wind farm.”