Travers Smith LLP has advised Ancala Partners (Ancala) on the acquisition of the largest wind farm in Cyprus, Orites Wind Farm from Platina Energy Partners and a local entrepreneur.
The Orites Wind Farm is made up of 41 Vestas V90-2MW wind turbines, with an installed capacity of 82MW and produces around 5% of Cyprus's electricity capacity. The Orites Wind Farm has been in operation since 2011 and exclusively exports the energy it generates via a Power Purchasing Agreement with the nationalised Electricity Authority of Cyprus which guarantees a fixed rate tariff for the energy until 2031.
Vestas, the world's largest manufacturer of wind turbines, both installed and maintains the farm's turbines.
Ancala is an established infrastructure investment manager with a number of infrastructure investments including Portsmouth Water, the SAGE North Sea Pipeline, Dragon LNG, Leep and Liverpool Airport.
The Travers Smith team was led by Corporate partners Spencer Summerfield and Jonathan Walters with support from Associate Jade MacDonald.