Case Study / Ridge Wind

260 MW
Operating
and development assets
€190m
Enterprise
value
2007
First
investment

RidgeWind was the first platform developed by members of the Asper team on behalf of HgCapital renewable energy funds. In 2004, we identified UK onshore wind as a sector with strong fundamentals: a good wind resource combined with the country’s structural need for new sources of electricity.

We further expanded the portfolio through selected acquisitions of pre-construction and operating projects, arranging project finance and construction, growing the platform to a total size of 260 MW. This helped us deliver economies of scale in procurement and operations.

Our investment strategy was focused on creating value through developing wind projects and aggregating them into a portfolio of critical scale. We backed RidgeWind, an independent developer of greenfield wind energy projects. Under our fund’s ownership, the Ridgewind established and progressed pipeline and obtained planning permission for 5 wind farms for a total of 177 MW in the challenging British planning environment.

We built RidgeWind into one of the UK’s largest and best-performing independent wind businesses and in 2012, we saw an opportunity to crystallise value created for our clients in a rising power price environment. We executed a successful exit, selling the portfolio to MEAG (the real asset investment vehicle of insurance company Munich RE) and UK investor Blue Energy.

RidgeWind was the first platform developed by members of the Asper team on behalf of HgCapital renewable energy funds. In 2004, we identified UK onshore wind as a sector with strong fundamentals: a good wind resource combined with the country’s structural need for new sources of electricity.

Our investment strategy was focused on creating value through developing wind projects and aggregating them into a portfolio of critical scale. We backed RidgeWind, an independent developer of greenfield wind energy projects. Under our fund’s ownership, the Ridgewind established and progressed pipeline and obtained planning permission for 5 wind farms for a total of 177 MW in the challenging British planning environment.

We further expanded the portfolio through selected acquisitions of pre-construction and operating projects, arranging project finance and construction, growing the platform to a total size of 260 MW. This helped us deliver economies of scale in procurement and operations.

We built RidgeWind into one of the UK’s largest and best-performing independent wind businesses and in 2012, we saw an opportunity to crystallise value created for our clients in a rising power price environment. We executed a successful exit, selling the portfolio to MEAG (the real asset investment vehicle of insurance company Munich RE) and UK investor Blue Energy.

Related News

HgCapital and Blue Energy agree £250m UK Wind Farm investment deal

February 1, 2013

HgCapital sold its 177MW wind portfolio, including the developer RidgeWind, to Blue Energy, the UK-based renewable energy investor and developer.

/ More about this story

HgCapital sells operating UK Wind portfolio to Munich Re

August 13, 2012

HgCapital has announced the sale of its operating UK onshore wind portfolio to Munich Re, represented by its asset management arm MEAG, for an undisclosed sum.

/ More about this story

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