Forsa Energy Expands Portfolio with Acquisition of Operational Wind Assets
Forsa Energy today announced the acquisition of two operational onshore wind projects, Burton Wold and Winscales Moor, with a combined generating capacity of approximately 26.5 MW. The wind assets were acquired from GCP Infrastructure Investments Limited.
Burton Wold is a 10-turbine wind farm with an installed capacity of approximately 20.5 MW, located in Northamptonshire. The site was commissioned in 2006. Winscales Moor comprises seven turbines with an installed capacity of approximately 6 MW. Located near Winscales in Cumbria, the project has been operational since 2009.
"This is an important milestone in the next phase of Forsa Energy's growth as a UK independent power producer (IPP)," said Stephen Milloy, Programme Director at Forsa Energy.
"Having established a portfolio of 298 MW of reserve gas generation assets through development, construction and operation, the acquisition of Burton Wold and Winscales Moor marks the beginning of the next stage in Forsa's diversification strategy.
We thank Gravis for their collaborative approach throughout the transaction and are delighted to have completed the acquisition in a timely manner.”
The addition of Burton Wold and Winscales Moor increases Forsa Energy's UK IPP portfolio to 324.5 MW. Working closely with its shareholder, Tiger Infrastructure Partners, Forsa Energy is executing a growth strategy focused on expanding its portfolio through the acquisition and development of onshore wind and solar assets. This transaction represents an important step in delivering that strategy.
Headquartered in central Scotland, Forsa Energy will operate Burton Wold and Winscales Moor through its in-house operations and maintenance (O&M) team.
Stephen Milloy added: "The addition of operational wind generation not only diversifies our portfolio but also builds on Forsa's track record in renewable energy. We are excited to continue growing our renewable generation platform in partnership with Tiger Infrastructure Partners over the coming years."
Forsa Energy was advised on this transaction by Varda Advisory, BDO and Shepherd + Wedderburn.
About Forsa Energy
Forsa Energy ("Forsa") was established in 2011 to develop, construct, own and operate energy assets across Europe. Prior to September 2017, the business operated through Velocita Energy Developments and 2020 Renewables, developing and constructing approximately 230 MW of onshore wind projects across the UK and France.
Following the successful sale of those businesses, the company made a strategic decision to broaden its technology base beyond onshore wind and rebranded as Forsa Energy. Forsa's flexible generation business was established in 2017 to meet the growing demand for reliable and flexible generation capacity to support the electricity system. The initial focus was on reserve gas generation using reciprocating engine technology. In 2020, Tiger Infrastructure Partners acquired Forsa Energy and has since supported the growth of the business. The UK team has since successfully developed, financed and constructed twelve operational sites, totalling approximately 298 MW.
Forsa is now entering the next phase of its evolution as an independent power producer, adding onshore wind and solar generation to its existing portfolio of flexible gas assets. Portfolio optimisation is supported by Forsa's in-house power trading team, which manages both company-owned generation and third-party assets. Complementing this capability, Forsa's in-house operations and maintenance team provides services across both owned and third-party assets, creating a fully integrated platform spanning development, ownership, operation and optimisation.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies.
Tiger Infrastructure's value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger Infrastructure believes strong tailwinds are driving demand for new infrastructure. Tiger Infrastructure maintains offices in New York and London.