- Second transaction of 2021 highlights successful, growing partnership between Capital Dynamics and Energiekontor
- Project estimated to reduce greenhouse emissions by over 0.7 million metric tons during its lifetime and contribute to Scotland’s pursuit of net-zero carbon targets
London, 15 April 2021 - Capital Dynamics, an independent global private asset management firm, announced the acquisition of a 100 percent equity stake in the Sorbie onshore wind project from Energiekontor AG., a 13 MW shovel-ready, subsidy-free onshore wind project located in North Ayrshire, Scotland. Sorbie represents Capital Dynamics’ second acquisition of 2021 under its partnership with Energiekontor and follows the 50 MW Longhill wind transaction in March.
Sorbie is estimated to reduce greenhouse emissions by over 0.7 million metric tons during its lifetime – the equivalent of emissions produced by over 150,000 passenger vehicles driven for a year or the electricity to power over 110,000 homes for a year. The project will commence construction in July 2021 and is expected to achieve commercial operations in the second half of 2022. Once operational, the project will benefit from Capital Dynamics' Clean Energy Infrastructure affiliate platform, Arevon Energy, and Energiekontor's longstanding operations management experience and optimisation support.
“We are delighted that our multi-discipline collaboration with Energiekontor has yielded a second successful transaction in 2021, and together we look forward to bringing this critical UK infrastructure to fruition,” said Barney Coles, Managing Director, Clean Energy Infrastructure at Capital Dynamics. “In the year Scotland plays host to the COP 26 UN Climate Change Conference, we are proud to contribute to the region’s pursuit of meeting ambitious net-zero carbon targets and to support the UK’s post-pandemic ‘green recovery’ plan.”
“We have always considered our Scottish pipeline, which we have built up over the last few years, to be of great value. With the sale of the Sorbie wind farm project the value has been confirmed a second time,” explains Peter Szabo, CEO of Energiekontor. “We are delighted about the renewed cooperation with such a renowned investor like Capital Dynamics.”
Pinsent Masons LLP acted as legal counsel to Capital Dynamics on the acquisition and DNV GL served as lead technical advisor.
About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.
Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.6 billion AUM and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure – proven renewable energy technologies, primarily in North America and Europe, across solar, onshore wind, energy storage and related infrastructure with a focus on both utility-scale and distributed generation technologies. The CEI platform’s fully-integrated asset management affiliate provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GW of contracted gross power generation across more than 150 projects in the United States and Europe and is one of the top 3 global solar PV owners.
As a sustainable asset manager, we have gone beyond standard ESG requirements by designing, implementing and trademarking the Capital Dynamics R-Eye™ Rating System – a unique, best-in-class approach to diligence and rating of each investment based on PRI principles and UN Sustainable Development Goals. Since Capital Dynamics’ Clean Energy Infrastructure platform’s inception in 2010, over 19 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments. This is equivalent to the emissions produced by over 4.0 passenger vehicles driven for a year or the electricity to power over 3.2 million homes for a year.
In 2020, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and in 2019 awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.
About Energiekontor AG
A solid business policy and a lot of experience in renewable energies: Energiekontor has stood for this for 30 years. Founded in Bremerhaven in 1990, the Company is one of the pioneers in the industry and is now one of the leading German project developers. The core business ranges from planning and construction to the operational management of wind farms in Germany and abroad and was expanded to include solar energy in 2010. In addition, Energiekontor operates wind and solar farms with a nominal output of almost 280 megawatts in its own portfolio. Energiekontor also aims to play a pioneering role in economic terms and to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.
In addition to its headquarters in Bremen, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Bernau near Berlin and Potsdam. The Company also has offices in England (Leeds), Scotland (Edinburgh, Glasgow), Portugal (Lisbon), USA (Austin/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen).
The proud record since the Company was founded: 126 realised wind farms and eleven solar parks with a total output of over 1 gigawatt. This corresponds to an investment volume of around 1.7 billion euros.
The Company went public on 25 May 2000. The share of Energiekontor AG (WKN 531350 / ISIN DE0005313506) is listed in the General Standard of the German Stock Exchange in Frankfurt and can be traded on all German stock exchanges.
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