Li Ka-shing’s CK Infrastructure Holdings acquires 32 UK wind farms for US$448.5 million
- The third such investment in 2024 follows deals for a natural-gas network in Northern Ireland and 70 UK solar, wind and hydropower assets
The consortium led by Li’s infrastructure and energy flagship entered into an agreement to acquire a portfolio of operating onshore wind farms in the UK from Aviva Investors for around £350 million (US$448.5 million), according to a statement on Tuesday morning. The transaction is expected to close in late September.
The consortium comprises CKI and Li’s property flagship CK Asset Holdings, which will both hold 40 per cent of the interests in the portfolio, and Li’s international energy utility investment unit, Power Asset Holdings, which will hold 20 per cent.
“This acquisition bolsters CKI’s position in meeting the challenges of climate change by driving the sustainability transition, adding to CKI’s existing sustainability initiatives ranging from renewable gas generation and distribution to waste management and recycling, to smart heating, [and] energy- and water-consumption tracking devices,” the statement said.
The portfolio comprises 32 wind farms located in England, Scotland and Wales, with a total of 175 megawatts (MW) in installed capacity.
The portfolio will provide immediate returns, stable cash flow and recurring profit, according to CKI. Revenue will be generated from government subsidies which are inflation-linked, as well as from power purchase agreements and from selling power to the market.
