TNB Acquires 97.3MW Onshore Wind Portfolio in UK, Reiterates Commitment to Renewable Energy Growth
Tenaga Nasional Berhad (TNB)’s wholly-owned subsidiary, Vantage RE Ltd. (Vantage RE) has completed its acquisition of a 100% stake in a 97.3MW onshore wind portfolio in the United Kingdom (UK) from a number of funds advised by Capital Dynamics, an independent global private asset management firm and one of the world’s leading clean energy investors, for a total consideration of GBP145.9 million.
This acquisition, following TNB’s maiden venture into the UK offshore wind market last October, marks another significant milestone in TNB’s strategy to grow its global RE portfolio while strengthening its presence in a focus market.
The wind portfolio comprises operational onshore wind farms across 11 sites in the UK that were developed under either the Feed-in Tariff or Renewable Obligation Certificate subsidy regimes, which are expected to provide stable long-term revenues. Upon the completion of this acquisition, Vantage RE’s total operational RE capacity will grow by 23% from 433MW to 530MW. This additional onshore wind capacity will diversify Vantage RE’s existing RE technology mix and improve the balance of its portfolio’s electricity generation profile throughout the year.
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