OnPath reshapes portfolio with wind farm sale

A North East renewable energy developer is reshaping its portfolio to fund the next phase of clean energy growth after completing a major asset sale.

Sunderland-headquartered OnPath Energy has sold seven onshore wind farms in England to European renewable energy producer ERG, which is headquartered in Milan, for an enterprise value of £112.9 million. 

The transaction forms part of the company’s strategy to reinvest capital into its expanding development pipeline across the UK.

The sold portfolio includes wind farms near Kendal, Lancaster, Stockton-on-Tees, Leeds, Doncaster, Rotherham and Barnsley. 

While ownership has transferred, OnPath will continue to manage the sites on ERG’s behalf, with existing community benefit packages remaining in place throughout each project’s lifetime.

Following the sale, OnPath Energy retains 179MW of operational onshore wind capacity across England and Scotland and is progressing additional projects north of the border. 

The company is also constructing its first two solar energy schemes in Yorkshire and is targeting around £1 billion of investment in UK clean energy projects by 2030.

Richard Dunkley, chief executive at OnPath Energy, which is owned by global investment firm Brookfield Asset Management, said: “The sale of these seven wind farms was a core part of the business plan that was developed when Brookfield acquired OnPath in 2023, and we are very pleased to have now completed this transaction with such a well-regarded counterparty.

“Acquisitions and divestments are a critical part of our growth strategy, where proceeds from selling mature assets can be used to develop and acquire pipeline with potential for value creation leveraging our team’s deep renewables expertise.

“We will now be bringing forward a range of new proposals for onshore wind farms across Great Britain over the next 12 months that will build on our existing plans to invest around one billion pounds in total in clean energy projects by 2030.”

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