OnPath strengthens portfolio with wind farm acquisitions
Deal News | Jan 30, 2025 | B Daily
OnPath Energy, a Sunderland-based renewable energy developer, has expanded its portfolio by purchasing two operational onshore wind farms — the Milton Keynes Wind Farm and the Pates Hill Wind Farm — from GCP Infrastructure Investments. The acquisition, OnPath's first since being acquired by Brookfield Asset Management in 2023, enhances the company's capacity and aligns with its strategy to accelerate growth through strategic acquisitions. The wind farms, operational since 2010, boast a combined capacity of 28MW, providing power to 23,000 homes annually. Richard Dunkley, CEO of OnPath, emphasized the company's intent to explore opportunities across various stages of project lifecycles, from pre-construction to operation. This milestone complements OnPath's existing portfolio of 12 onshore wind farms in Scotland and England, alongside new projects like the Mill Rig Wind Farm, Barnsdale Solar Farm, and a solar-battery scheme. GCP's adviser, Gravis Capital Management, expressed confidence in OnPath's stewardship of the assets.
Sectors
- Renewable Energy
- Infrastructure Investments
- Private Equity
Geography
- United Kingdom – The transaction and companies involved are based in the UK, with wind farms located in Scotland and England.
Industry
- Renewable Energy – The acquisition of wind farms indicates activities in the renewable energy sector.
- Infrastructure Investments – The sale of assets from GCP Infrastructure Investments relates to infrastructure sector activities.
- Private Equity – OnPath Energy's acquisition history involving Brookfield Asset Management, a private equity firm, demonstrates relevance to this sector.
Financials
- 28MW – Combined capacity of the acquired wind farms.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OnPath Energy | Buyer | Company | A Sunderland-based renewable energy developer acquiring wind farms. |
| GCP Infrastructure Investments | Seller | Company | An infrastructure investment firm selling the wind farms. |
| Brookfield Asset Management | Private Equity Owner | Company | The parent company of OnPath Energy, specializing in alternative asset management. |
| Gravis Capital Management | Investment Adviser | Company | Adviser to GCP Infrastructure Investments. |
| Richard Dunkley | CEO | Person | The Chief Executive Officer of OnPath Energy. |
| Philip Kent | CEO | Person | The Chief Executive Officer of Gravis Capital Management. |
| Shaun Chande | Director of M&A | Person | Merger and Acquisitions director at OnPath Energy. |