Bridgepoint buys 11 wind farms

The private equity firm Bridgepoint is to buy 11 wind farms from the Spanish construction conglomerate ACS.

The deal, which values the farms at €596.5m (£521.1m), is the latest in a string of private equity deals in the sector.

The US firm Blackstone, for example, announced a €2.5bn investment in two offshore wind farms in German waters last week.

"Wind is the leading technology within the growing global renewable energy sector, and we believe this business, with the right leadership, can become the leading player in the Spanish wind industry," Felipe Moreno from Bridgepoint in Madrid said.

Wind energy covered 15 per cent of Spain's electricity demand last year, and represents 80 per cent of the total renewable energy capacity installed in the country.