Platina exits Mistral Windfarm 1

The assets include five sites: Burton Wold, Garves, Pates Hill, Milton Keynes and Winscales Moor.

These were the only assets left in the portfolio of Platina's Mistral Windfarm 1, raised in 2005. With this exit, Platina has completed the full investment fund cycle. The exit follows the sale of 36MW of French assets in 2008.

Platina backed the buyout of three wind farm projects in France through its funds Mistral WindFarms 1 and Mistral Energy 1 in October 2005. The total investment came to slightly more than €50m. Platina secured £39m of financing for the development of the Pates Hill and Milton Keynes wind farms in November 2009.

The GP launched its second dedicated wind energy fund in May 2005 with a target of €60m, holding a first close in November 2005 at €27m. The fund held a final close in December 2006 on €56m.

Mistral Windfarm 1 was formed to provide equity finance for the construction and operation of approximately 300MW of wind farms in the UK and France.

Company
Mistral Windfarm 1 focuses on construction-ready wind assets. The group has delivered an overall 105MW of operational wind sites in the UK and France.

People
Thomas Rottner is managing partner of Platina.

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