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United Kingdom

United Kingdom

UK developer Infinergy acquired by its management

UK: The CEO and CFO of renewables developer Infinergy have acquired the shares from its Dutch owners Koop Group.

Infinergy owns a portfolio of approximately 500MW in the UK
Infinergy owns a portfolio of approximately 500MW in the UK

The developer's CEO Esbjorn Wilmar and CFO Tjiwolt Wierda will take on Infinergy.

They are looking to expand activities into Australia's solar market and continuing to grow its strong onshore wind portfolio in the UK and abroad.

"For many years Infinergy has been very successful in developing onshore wind energy projects around the UK. We are now ready to take the next step and widen our horizons," Wilmar said.

"We are very pleased to have achieved this management buy-out as we see it as an important milestone in realising our ambitions."

The developer owns a portfolio of approximately 500MW in the UK, having sold more capacity to third-party investors.

According to Windpower Intelligence, the research and data division of Windpower Monthly, the developer is part of a consortium, including Tata Power, at the three-turbine, 9MW Ferrum project in Ijmuiden, in the Netherlands.

Wilmar added: "We have started new wind and solar projects in the Netherlands and Australia, which are looking very positive. The first planning consent for a wind project in the Netherlands is expected in the coming weeks.

"Our activities in the UK will continue as well. Where it comes to developing larger-scale projects, our focus is firmly on Scotland."

Infinergy was successful in the UK's first Contracts for Difference auction, awarded in February 2015. The developer won a support contract for its 177MW Dorenell site in Scotland, the largest onshore wind project in the auction to do so.

The Dorenell site was sold to the UK arm French developer EDF Renewable Energy in November 2015.

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