14 Apr 2016 – 3i Group [LON:III] has hired Jones Lang LaSalle to sell the Wadlow onshore wind farm in the UK, two sources familiar with the situation said.
The sales process is down to a final bidder and the winner is expected to be announced on the week beginning 18 April, both sources, who were involved in the second bidding round, said.
Wadlow is a 13-turbine, 26 MW wind farm that became operational in 2012, according to its website. Operational onshore wind has a market rate of about GBP 2m per MW, the second source said.
3i Group bought an 85% stake of Wadlow from its developer, Renewable Energy Systems (RES), in August 2011, two months after construction began on the project. It subsequently acquired RES’s remaining 15% stake. The size of the deal was not disclosed.
3i Group declined to comment, while Jones Lang LaSalle did not respond to a request for comment.
by Katie McQue