An onshore windfarm near Kendal is among seven across the north of England sold in a deal which valued the developments at £112.9m.
The Armistead windfarm, east of the M6 near Old Hutton, was owned by OnPath Energy based in Houghton le Spring but has now been acquired by ERG, an Italian-based energy multi-national company.
OnPath will continue to manage all seven sites on behalf of ERG and the community benefits packages linked to each site will be maintained under their new ownership over each project’s lifetime.
Despite the sale OnPath Energy says it aims to invest around one billion pounds in clean energy projects across the UK by 2030 as part of a drive towards becoming the UK’s leading renewable energy developer.
The firm expects to bring forward several new development proposals in England this year and is exploring a range of potential new developments locations across England, Scotland and Wales.
Richard Dunkley, CEO at OnPath Energy, said: “Acquisitions and divestments are a critical part of our growth strategy, where proceeds from selling mature assets can be used to develop and acquire pipeline with potential for value creation leveraging our team’s deep renewables expertise.
“We will now be bringing forward a range of new proposals for onshore wind farms across Great Britain over the next 12 months that will build on our existing plans to invest around one billion pounds in total in clean energy projects by 2030.”
