E2 Energy Debenture 2

A diversified portfolio of operational UK wind turbines

E2 Energy was a portfolio of eight medium wind turbines located on farms across the north of England. As well as selling some of the electricity to the farmers at a discounted rate, rent for the use of the land is helping diversify their income. The rest of the electricity is exported to the grid, increasing the UK’s supply of clean, home-grown energy. All of the turbines receive the Feed-in Tariff for the electricity generated and have proven operational track record, so investors will benefit from stable, long term returns backed by green power. The turbines were all installed and commissioned between August 2012 and March 2016.

Five of the turbines are smaller 80 kW Endurance E3120 models, which are located in Yorkshire. The other three turbines are Endurance X35 turbines which are larger with two of 225 kW and one of 180 kW. They are located in Derbyshire, Cumbria and Yorkshire. Each turbine is at an individual location with its own end-user and power distribution infrastructure. The benefit of this is that low wind in a particular area does not necessarily occur at all the turbines in the portfolio and also operating issues are isolated to the particular turbine experiencing a problem.

Who developed the wind turbines?

The turbines were owned and operated by Arena Capital Partners, a Dublin based developer and investor in renewable energy which owns more than 70 turbines in Northern Ireland, Great Britain and Italy. The funds raised in this offer were used to help Arena acquire more wind energy assets and to develop renewable energy projects in its pipeline.

The portfolio of wind turbines was sold to a new owner in 2021 and the owner, as allowed under the term of the investment, chose to make an early repayment of this investment. The investment was fully repaid on 30 June 2021.