OnPath Energy Expands UK Wind Portfolio with Two New Acquisitions
Deal News | Jan 30, 2025 | EIN
OnPath Energy, a Sunderland-based renewable energy developer, has expanded its UK onshore wind portfolio by acquiring two operational wind farms—Milton Keynes Wind Farm in Buckinghamshire and Pates Hill Wind Farm in West Lothian—from GCP Infrastructure Investments Ltd. The acquisition is the company's first since its takeover by Brookfield Asset Management through the Brookfield Global Transition Fund II. Both wind farms, operational since 2010 and consisting of seven Vestas V-90 2.0 MW turbines with a combined capacity of 28MW, will continue to benefit local communities through community benefits packages. OnPath Energy is aggressively pursuing growth, with plans to begin work on several projects, including the Mill Rig Wind Farm and Barnsdale Solar Farm, aiming to develop over 3GW of renewable energy generation. The transaction underscores OnPath's strategic acquisition goals to leverage its expertise and financial capabilities. Gravis Capital Management, advising GCP Infrastructure Investments Ltd, noted the satisfactory returns from these assets and expressed confidence in OnPath as the new owner.
Sectors
- Renewable Energy
- Private Equity
Geography
- United Kingdom – The wind farms acquired by OnPath Energy, as well as the company's headquarter, are located in the UK, making it the primary geography of this transaction.
Industry
- Renewable Energy – This industry involves the development and operation of energy generating facilities from renewable sources such as wind and solar. OnPath Energy operates in this sector and has recently acquired additional wind assets.
- Private Equity – Brookfield Asset Management's involvement as an investor in OnPath Energy situates this transaction within the realm of private equity, highlighting investment and acquisition activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OnPath Energy | Acquiring Company | Company | A Sunderland-headquartered renewable energy developer that acquired two UK wind farms. |
| GCP Infrastructure Investments Ltd. | Selling Company | Company | The vendor of the Milton Keynes and Pates Hill wind farms, with previous investments in renewable infrastructure. |
| Brookfield Asset Management | Parent Company | Company | A major global asset manager that owns OnPath Energy through its Global Transition Fund II. |
| Gravis Capital Management | Investment Adviser | Company | Advises GCP Infrastructure Investments Ltd. and commented on the transaction. |
| Richard Dunkley | CEO | Person | The CEO of OnPath Energy, who guided the company's strategic expansion initiatives. |
| Shaun Chande | Mergers and Acquisitions Director | Person | The M&A director at OnPath Energy who underscored the strategic acquisition approach. |
| Philip Kent | Chief Executive Officer | Person | The CEO of Gravis Capital Management who commented on the transaction's benefits. |