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AMP Capital's Irish Infrastructure Fund completes first investment
The Irish Infrastructure Fund, managed by AMP Capital, has acquired a controlling stake in a portfolio of wind farms in the Republic of Ireland and Northern Ireland.
The fund will hold a stake of at least 75 per cent across the portfolio of 10 wind farms, which was previously wholly owned by the Viridian Group.
Viridian's Energia business will retain minority interest in the portfolio and will continue to manage and operate the wind farms, AMP Capital stated.
AMP's fund will seek up to €1 billion from global and Irish institutional investors, and has already secured €300 million from the National Pensions Reserve Fund and other Irish institutional investors.
"We look forward to leveraging this investment through the continued growth and development of our significant portfolio of renewable assets across Ireland," Energia renewable managing director Peter Baillie said.
Managing director for Europe and head of infrastructure Europe at AMP Capital Boe Pahari said the transaction is potentially the first in a number of additional investments in the renewable energy space in Ireland.
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