Balfour Beatty Infrastructure Partners LLP (BBIP) announces today that the fund to which they are investment advisors, Balfour Beatty Infrastructure Partners, LP (the BBIP Fund) has made its first investment in a number of operational UK solar projects.
The BBIP Fund reached its first close in January 2013. After achieving this milestone, the BBIP Fund subsequently completed its first investment on 28th March, acquiring a number of operational UK solar projects from UK based renewable energy developer, Anesco Ltd (Anesco). The solar parks, with a total capacity of 20MW, were developed and built by Anesco, who will also be responsible for their long term operation and maintenance.
Commenting today, Rob Gregor, Managing Partner of BBIP, said: "This is a significant milestone for BBIP, following first close of the BBIP Fund in January we have successfully secured its first investment in an operational core infrastructure asset from a relationship developed on a bilateral basis with Anesco. We look forward to continuing to work with Anesco on future assets as the BBIP Fund seeks to add scale to this platform over 2013 and beyond”.
Adrian Pike, CEO of Anesco, commented: “We’re delighted to form this agreement with BBIP. Anesco continues to experience sustained growth and to build long term relationships with investment groups.”
The BBIP Fund strategy is to invest in predominantly brownfield (operational) assets in its key target sectors of energy, transportation and utility assets across the UK, Europe, and North America.
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Notes to editors:
1. Balfour Beatty Infrastructure Partners LLP (BBIP) is an investment advisor and was set up in 2011, with the recruitment of four senior individuals.
The BBIP Fund will make investments in predominantly brownfield (operational) assets into its key target sectors of transport, energy and utilities across the UK, Europe, and North America (www.bbip.com).
2. Balfour Beatty plc (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
Balfour Beatty plc works in partnership with customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, and employs 50,000 people.
Key infrastructure markets for Balfour Beatty plc include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Balfour Beatty plc group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
3. Anesco is a national company dedicated to helping homeowners, local authorities and businesses reduce their carbon emissions.
Anesco provides companies with a comprehensive energy service from audits through to recommendations, installations and capital funding plans. The team provides a complete turnkey service, from insulation solutions, solar PV and ground source heat pumps, through to micro generation design, installation and maintenance.
Anesco is approved as a Green Deal Provider and has been recognised as one of the UK’s fastest growing private companies in the prestigious Sunday Times Fast Track 100.
Anesco is one of only a handful of organisations in the UK to have been awarded the prestigious Investors in People Gold standard, without first having worked through the bronze and silver standards.
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