Ancala Partners has sold its hydro power business, Green Highland Renewables to Simec, the energy arm of the global energy, metals and industrials group, the GFG Alliance. The transaction is unconditional and is scheduled to complete before the end of February 2018.
Ancala acquired GHR in April 2015. Its portfolio quadrupled in size over three years of ownership. GHR currently has 18 operating projects with a total capacity of over 23MW and another four under development with a total capacity of 8MW. Earlier this year, Ancala announced that it had raised £51 million of debt facilities for Green Highland Hydro, the asset ownership vehicle for hydro power assets developed by GHR.
Spence Clunie, managing partner, Ancala Partners, commented: “Ancala remains committed to pursuing opportunities in the UK and European mid-market infrastructure sector which provide inflation-linked, stable cash flows for our investors.”
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