Global clean energy enterprise TagEnergy has made its first UK investment in wind farms acquiring four mid-stage development projects in Scotland, totaling almost 300MW, as it builds an asset portfolio across clean energy generation and battery storage at a critical time in the country’s energy transition.
TagEnergy acquired 100% ownership of Cairnmore Hill, Glenburnie, Sclenteuch and Torfichen wind farms from independent renewable energy company RES, who will continue to provide some development services.
Already a leading Independent Power Producer (IPP) in the UK with an operating portfolio of 320MW across six grid-connected battery energy storage systems (BESS) locations, the wind farm projects take TagEnergy’s multi-technology pipeline to more than 1.5GW.
The investment in Scottish wind farms reflects the critical need for onshore wind generation to deliver the UK's net zero strategy, including the Clean Power Action plan goal to double onshore wind capacity by 2030.
TagEnergy will bring significant onshore wind capabilities and global expertise to the projects to support national generation and emissions reduction targets, with its Golden Plains Wind Farm the biggest onshore wind farm under construction in the southern hemisphere and already Australia’s highest generating wind project.
Franck Woitiez, Chief Executive Officer, TagEnergy said, “This is a monumental step in TagEnergy’s UK journey as we become a true multi-technology IPP with generation and storage technologies to drive the country’s energy transition on more fronts simultaneously.”
“These wind farm acquisitions are a strategic investment - in technology, location and timing. Onshore wind is critical todelivering the UK’s clean energy future. It is one of the easiest and fastest technologies to build and deploy, and, along with solar, the cheapest form of electricity generation. And there is no better place in the UK for onshore wind than in Scotland,” Mr Woitiez said.
“We look forward to working with all stakeholders, local communities and authorities to realise these vital projects and help meet national targets for emissions reduction through generating cleaner, cheaper, homegrown power faster,” he said.
Lucy Whitford, Managing Director for UK & Ireland at RES said, “Tag acquired its now operational Lakeside and Roaring Hill BESS projects from RES at development stage, with RES appointed as asset manager. We’re delighted to continue our relationship with TagEnergy and look forward to seeing these four wind farms come to life with our continued support.”
Consulting firms Alvarez & Marsal, Blake Clough and Natural Power, and law firm Watson Farley Williams, acted as advisors to TagEnergy on the acquisition.
TagEnergy’s four wind farm projects in Scotland representing a proposed combined 270MW are located at:
About TagEnergy
TagEnergy is a clean energy enterprise creating competitive clean power stations to accelerate the energy transition and help the world reach net-zero carbon emissions sooner. Since its formation in 2019, TagEnergy has assembled a portfolio of more than 10GW of solar, wind and battery storage technologies in the UK, France, Germany, Japan and Australia, of which 1.9GW is under construction or operation.
TagEnergy is controlled by TagHolding SAS, a joint venture between the Impala SAS Group and Exor N.V., supported by major investors Mirova and Omnes, and is operated by a team of entrepreneurs, all shareholders. Its operations span the renewables value chain from development, financing, construction and asset management to commercialisation of its competitive clean energy.
TagEnergy Media Enquiries:
Jackie Crossman M: +61 402 218 662 E: media@tag-en.com
About RES
RES is the world's largest independent renewable energy company, working across 24 countries and active in wind, solar, energy storage, green hydrogen, transmission, and distribution. An industry innovator for over 40 years, RES has developed more than 28GW of renewable energy projects across the globe and plans to bring more than 26GW of new capacity online in the next five years.
As a service provider, RES has the skills and experience in asset management, operations and maintenance (O&M), and spare parts – supporting 45GW of renewable assets. RES brings to the market a range of purposeful, practical technology-based products and digital solutions designed to maximise investment and deployment of renewable energy.
RES is the power behind a clean energy future where everyone has access to affordable zero carbon energy bringing together global experience, passion, and the innovation of its 4,500 people to transform the way energy is generated, stored and supplied.