FINAL. Issued Tues Mar 22.

 

‘Small is beautiful’ for onshore wind farm investors


THE “abandonment” of onshore wind by the UK’s big six energy companies represents a golden opportunity for private investors, an expert says.

Richard Crosbie Dawson, managing director of renewables investment specialist FIM Services (FIM), believes the main utility companies such as Centrica, E.ON, RWE nPower, EDF, Scottish Power and Scottish & Southern Energy are now focusing on developing offshore wind farms – opening up onshore investment.

He said: “The abandonment by the big utilities of onshore in favour of offshore wind means there is a major investment opportunity in onshore wind farms in the 10MW to 25MW range.

“There are now fewer players in the market for these smaller facilities, and the planning system is becoming less burdensome so more are coming online all the time.

“Potential investors should be in no doubt that it is smaller onshore wind farms that will provide the best return on their money over the next decade.”

Oxfordshire-based FIM provides investment advice on 55,000 hectares of land, and has funds under management of £215m across a range of asset-backed investments and renewable energy projects.

Acting on behalf of landowners to market potential wind farm sites to developers, the company currently has 800MW of potential capacity in the pipeline.

Financial completion has just been achieved for the Darracott Moor wind farm in North Devon.

Equity was raised from FIM’s private clients, and a debt facility was agreed with the Co-operative Bank to provide a 15-year loan to assist in the financing of the project.

Three Gamesa G5x Class IA 850kW wind turbines, with a combined total capacity of 2.55MW, are being installed. The grid connection into Western Power Distribution’s local distribution network has been arranged and commissioning is expected shortly.

Jones Bros Civil Engineering UK was contracted to complete the civil work, with Power Systems UK installing the electrical systems. Natural Power Consultants Ltd provided technical due diligence and is providing project management support during the construction phase. McGrigors provided legal due diligence.
 
Ends

For more information please call Mike Youds at Outwrite Public Relations on 01352 706260.
 
NOTES TO EDITORS
 
FIM
·      FIM Serviced Ltd (FIM) was established in 1979 and has over 30 years’ experience advising high net worth individuals and institutions on asset backed investments
·     It provides specialist investment products and services in areas of sustainable timberlands and renewable energy in the UK
·     Understanding the economics of renewable developments has allowed FIM to design and implement competitive financing packages for the construction and operation of consented wind farms
·     FIM is authorised and regulated by the Financial Services Authority (FSA)
·     For more information, go to www.fimltd.co.uk <http://www.fimltd.co.uk>

Richard Crosbie Dawson
·     A member of the Royal Institution of Chartered Surveyors, who has guided the expansion of FIM over the past 25 years to include the wide range of services and expertise now incorporated into the renewables division
·     Expertise extends to dealing with all property matters, including complex documentation and due diligence matters, devising and implementing investment schemes particularly those based on tax efficient structures and a wide range of investor contacts established through FIM's investment business
·     Registered adviser with the Financial Services Authority

Natural Power
·     Leading renewable energy consultancy
·     Provides practical consulting, management services and product innovations to an extensive global client base (25GW of wind, wave and tidal sites across Europe and the Americas), from proof of concept through project development, construction, due diligence, asset management and onwards to re-powering or decommissioning