20 Feb 2015 – Fred Olsen Renewables has hired Rothschild to advise on a stake sale of its UK onshore wind power portfolio, a sector banker and a person with knowledge of the situation have said.
The company plan to sell 49% of its wholly-owned portfolio that has an installed capacity of 433MW, the two people said. The operational wind farms in the portfolio include Crystal Rig I (62.5MW), Crystal Rig II (138MW), Rothes I (50MW), Rothes II (41.4MW), and Paul’s Hill (64.4MW).
The firm has several other wind farm projects in development; Codling Bank I, Codling Bank II, Windy Standard II, Crystal Rig III (62MW), and NE Scotland Forest Lot 4. Fred Olsen Renewables (FOR) is a wholly owned subsidiary of the Norwegian firms Bonheur ASA and Ganger Rolf ASA.
In the current market, operational onshore wind farms are priced at around EUR 2m per MW, an industry source said.
Rothschild declined to comment.
By Katie McQue