7 February 2022, London
Asper Investment Management (“Asper”) is pleased to announce an investment by GLIL Infrastructure (“GLIL”) in a portfolio of 11 operational onshore windfarms that are operated by Invis Energy. GLIL will acquire a majority stake in the portfolio.
Invis Energy was established in 2011 as a joint venture between co-investment partnerships managed by Asper and the Craydel Group.
The portfolio is currently operating 453 MW of installed wind capacity and, in its lifetime, has generated enough electricity to power 350,000 homes and prevented 480,000 tonnes of greenhouse gas emissions per year, compared to non-renewable energy generation. The portfolio benefits from long-term offtake arrangements in place through the Irish renewable energy support schemes, REFIT and RESS, and corporate PPAs. The windfarms are in County Galway, County Kerry, County Clare, County Cork and County Mayo.
Invis Energy will continue to operate the portfolio following the investment.
Andrew Clements, Director of Asper, said: “We started developing this portfolio of projects in 2011, which all benefit from Ireland’s exceptional wind resource, and are delighted with the contribution we have been able to make so far in the decarbonisation of Ireland’s electricity generation capacity.
Ireland has ambitious plans to achieve further reductions in greenhouse gas emissions in the coming years and we look forward to contributing to this with the ongoing development and construction of further greenfield renewable energy projects in Ireland and Scotland through Invis Energy.
Building sustainable infrastructure assets is core to the investment approach of Asper. We are very proud of what we have been able to achieve with Invis Energy so far, and we have strong growth aspirations for this business which is a great example of Asper’s strategy to Build the New.”
About GLIL Infrastructure
GLIL partners with UK pension funds to invest in Britain’s future, creating jobs, supporting communities and helping to power the economy. It is a proven investor, with a fund specially designed to help pension fund members tap into the stable, inflation-linked returns that infrastructure investment offers. To date, GLIL, a partnership between Local Pensions Partnership Investments (“LPPI”) and Northern LGPS, has raised £2.5bn of committed capital, with over £2bn deployed into a growing portfolio of infrastructure assets spanning renewable energy, water and ports, trains, hospitals and schools. It invests on behalf of pension funds including pooled UK Local Government Pension Scheme funds and Nest, the Government-established workplace pension provider. For more information on GLIL, including its history, executive committee and investment portfolio, please visit www.glil.co.uk.