Investing in clean energy projects
We recently made a significant investment to support renewable energy production in south-west Scotland. It's part of our ongoing work to integrate environmental, social and governance issues throughout our investment process.
Led by our Infrastructure Debt Team, we provided over £63m of long-term debt to finance Whiteside Hill Wind Farm, an operational wind farm in Dumfries and Galloway. The wind farm is accredited under the UK Government's Renewables Obligation Certificate programme.
The wind farm is owned by investors in funds managed by Capital Dynamics – one of the world's largest specialised investment managers for renewable energy. It's part of Capital Dynamics' Clean Energy Infrastructure investment strategy. It will be operated by a subsidiary of the Global Energy Group, which also manufactured and installed the turbines.
The investment was financed by three of our pension and insurance clients, providing them with a long-term reliable income stream from a clean energy investment.
Alex Campbell, Investment Director at Aberdeen Standard Investments, said:
We are committed to investing in clean energy projects that contribute to the UK's renewable energy targets. With a highly experienced sponsor and operator, this investment will also provide our investors with stable and predictable long-term returns, helping them to match their long-term liabilities.