Wind farm investors Platina Finance and Santander Private Equity have reached an interim close on €27m of Mistral Windfarms I (MWF).
Platina will manage the fund, which has a target size of €60m, with Santander as a cornerstone investor, and will provide equity for the construction and operation of wind farms in the UK and France. MWF will acquire projects at financial close and will act as a follow-on fund from Platina’s Mistral Energy I (ME), a vehicle dedicated to wind farm development.
In May this year ME sold Burton Wold Windfarm, a 20MW project in Northamptonshire, to MWF. The farm is scheduled to begin operation in February 2006.