Swiss asset manager SUSI Partners has agreed to sell the 14.4-megawatt (MW) Milestone onshore wind farm in County Tipperary, Ireland, to the Irish subsidiary of Italy’s Alerion Clean Power, as it continues to divest assets from its second renewable energy fund.
The four-turbine wind project generates around 40 gigawatt-hours (GWh) of electricity annually, enough to supply approximately 15,000 Irish households, and has contributed to the avoidance of more than 70,000 tonnes of carbon dioxide emissions since commissioning.
SUSI acquired the Milestone wind farm in early 2018 during the final stages of construction. It became operational in 2019.
“With this transaction, SUSI will have exited over 80% of the SUSI Renewable Energy Fund II’s (SREF II) assets,” the company said in a statement.
SREF II, launched in 2014, focused on acquiring onshore wind and solar PV projects at the ready-to-build stage across European markets. SUSI said the fund’s portfolio assets have since developed robust operational track records.
The transaction is part of a broader strategy by SUSI to realise returns for investors in its closed-end fund, while Alerion continues to expand its footprint in the European renewables market. Financial terms of the deal were not disclosed.
