On April 20, 2020, Foresight
Group LLP, a leading independent infrastructure and private equity investment
management firm in the United Kingdom announced the completion of its acquisition
of the 231 MW Skaftasen wind project in Sweden.

Foresight first confirmed its acquisition of the project
from Arise AB in December 2019. Skaftasen wind project is set to become the biggest
asset in the Foresight portfolio. The deal is sealed along with the co-investor
syndicate of four institutions with an advisory agreement related to their
investment with Foresight. The syndicate group comprises of BAE Systems Pension Funds
Investment Management Ltd (BAPFIM), Kommunal
Landspensjonskasse Gjensidig Forsikringsselskap (KLP), and Arcano Partners (Arcano).

In April 2019, Siemens
Gamesa gave a presentation on the worlds first Siemens
Gamesa 5.X platform during WindEurope Bilbao trade fair. Within seven
months of its introduction, it got a deal from Foresight and Arise AB to
install the advanced and powerful onshore wind turbine SG 5.8-155 in the
Skaftasen wind project.

The contract involves the installation of a total of 35
turbines with a flexible power rating and operating at 6.6 MW, which adds up to
231 MW.  Additionally, a 30-year full-service agreement is also in place that will help in generating
predictable revenue streams over its lifecycle, improving the business case of
the project. The project is located at Hrjedalen Municipality of Central
Sweden. That is the first commercial-scale project using the new Siemens Gamesa
5x platform. Currently, construction work on the project is going on as per the schedule and on budget. The project is scheduled to be completed by the end of
the fourth quarter of 2021.

Upon completion, it is expected to save energy equivalent to
425,000 tonnes of CO2 emissions per year emitted by a coal-fired power plant.
Skaftasen wind project also contributes 1% of its revenue to the local
communities during operations.

Richard Thompson, Partner, Foresight Group said:
We are delighted to have been able to introduce such a strong syndicate of
co-investors alongside our Foresight Energy Infrastructure Partners fund to
support the development of this, our first greenfield onshore wind investment
in Sweden. We are continuing to find strong demand amongst European institutional
investors for the renewable energy infrastructure asset class, given both its
resilience and strong sustainability characteristics, and expect to be able to
announce further closes for FEIP, which has a target size of 500m, in due
course.

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