DLA Piper has advised Platina Energy Partners and local partner Mr Kleanthis (Akis) Ellinas on the disposal of the largest wind farm in Cyprus to Ancala Partners, an independent infrastructure investment manager.
Operational since 2011 and with an installed capacity of 82MW, the Orites wind farm comprises 41 Vestas V90-2MW wind turbines and produces around five per cent of Cyprus’s entire electricity generation capacity. All electricity generated is exported to the grid through a long term Power Purchasing Agreement (PPA) with Electricity Authority of Cyprus (EAC), the government-backed operator responsible for transmission, distribution and supply across the island. The asset has a fixed rate tariff with the Cypriot government until 2031.
The asset, which has been developed and constructed by European investment firm Platina Energy Partners and local partner Mr Kleanthis Ellinas, uses well-established, low-complexity technology comprising turbines installed and maintained by the world’s largest manufacturer, Vestas.
The acquisition was made by funds managed by Ancala.
The DLA Piper team was led by Global Co-Chair of Energy and Natural Resources, Natasha Luther-Jones and Corporate partner Stephen Atkinson. They were assisted by associates Simon Winterburn, Emily Scrowston (Corporate) and Sophie Linnell (Projects).
