Aviva Investors provides financing towards acquisition of Hornsea One Windfarm offshore transmission assets

15 March 2021 1 minute read

 

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced it has provided financing to Diamond Transmission Partners for the purchase of offshore transmission operator (“OFTO”) assets at Hornsea One, the world’s biggest offshore wind farm.

Windfarm

The transaction was carried out on behalf of Aviva UK Life’s annuity business and further extends Aviva Investors’ commitment to the Hornsea One project, with the business having originally provided £400 million of financing in 2018 to help fund its construction.

Hornsea One, owned by Ørsted Wind Power A/S and Global Infrastructure Partners (‘GIP’), is a 1.2GW asset located off the East Coast of England. Consisting of 174 Siemens 7MW wind turbine generators, it was the first wind farm to have more than 1GW of capacity and produces enough energy to power over one million UK homes.

Hornsea One OFTO builds on the strong partnership Aviva Investors has built with Diamond Transmission Partners in 2020 when Aviva Investors also contributed funding towards the purchase of OFTO systems at Galloper

Wind Farm, that sits 27km off the coast of Suffolk and which generates enough electricity to power more than 380,000 UK homes.

As part of its commitment to a sustainable economy and decarbonising its portfolio of assets, Aviva Investors recently published an ambitious net zero pathway for its £47.3 billion Real Assets business, which includes the interim goals of investing £2.5 billion in low-carbon and renewable energy infrastructure and increasing low-carbon and renewable energy generation capacity to 1.5GW by 2025.

Sinéad Walshe, Director, Infrastructure Debt at Aviva Investors, said:

“Hornsea One is a seminal asset in the delivery of renewable energy and carbon efficiencies within the UK. We are delighted to be able to further our backing and involvement in this flagship project, reflecting our desire for infrastructure projects that can meet client investment objectives whilst also having a positive ESG impact, as we continue to decarbonise our portfolio of assets.”

Marcus Mollan, Director, Annuity Asset Origination at Aviva, added:

“We are pleased to extend Aviva’s backing of renewable energy projects across the country and support the UK Government’s wider commitment to becoming a net zero carbon economy.  Tackling the climate crisis is an issue we take very seriously, having recently become the first major insurer to set out the demanding target of achieving net zero carbon emissions by 2040. Not only will this investment provide long-term cashflows to match our liabilities, it will also have a positive impact at a community level by providing a significant number of UK homes with clean, renewable energy.”

For more information contact:

James Morgan

Media Relations Manager

Steve Ainger

Head of Media Relations

Important information

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 11 April 2022. Unless stated otherwise any views and opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. 

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ. Authorised and regulated by the Financial Conduct Authority.

Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £268 billion in assets under management as at 31 December 2021.

Aviva PLC

We are the UK’s leading Insurance, Wealth & Retirement business and we operate in the UK, Ireland and Canada. We also have international investments in Singapore, China and India.

  • We help our 18.5 million customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
  • We have been taking care of people for 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2021, we paid £30.2 billion in claims and benefits to our customers.
  • Aviva is a market leader in sustainability. In 2021, we announced our plan to become a Net Zero carbon emissions company by 2040, the first major insurance company in the world to do so. This plan means Net Zero carbon emissions from our investments by 2040; setting out a clear pathway to get there with a cut of 25% in the carbon intensity of our investments by 2025 and of 60% by 2030; and Net Zero carbon emissions from our own operations and supply chain by 2030.  Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
  • Aviva is a Living Wage and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at www.aviva.com/about-us/our-people/
  • At 31 December 2021, total Group assets under management at Aviva Group are £401 billion and our Solvency II shareholder capital surplus is £13.1 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
  • For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us  
  • The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images, podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
  • You can follow us on:

o    Twitter: www.twitter.com/avivaplc/  

o    LinkedIn: www.linkedin.com/company/aviva-plc

o    Instagram: www.instagram.com/avivaplc

For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva

Aviva Investors Global Services Limited
St Helen's, 1 Undershaft, London, EC3P 3DQ

Phone     +44 (0)20 7809 6000

Fax          +44 (0)20 7489 7940

Web        www.avivainvestors.com

Email      info@avivainvestors.com

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. 
Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ. Authorised and regulated by the Financial Conduct Authority and a member of the Investment Association.

Telephone calls may be recorded for training and monitoring purposes.

Latest infrastructure finance news

  • Big Help case study

    9 Jul 2023

    (London) Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has acquired, through its Lime Property Fund, a portfolio of 73 Supported Living properties located across the UK, adding to its portfolio of high-quality, long-income real estate assets. The deal provides funding for the properties to Big Help, a registered charity based in Liverpool, and releases capital tied up in property holdings to enable Big Help to invest in other parts of their business. 

  • Aviva Investors awarded Cash-Driven Investment Manager of the Year at the Irish Pension Awards, 2022

    3 Nov 2022

    (London) –Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has been awarded Cash-Driven Investment Manager of the Year at the Irish Pension Awards in respect of the European Real Estate Long Income Fund (E-RELI Fund)

  • Aviva Investors European Real Estate Long Income Fund acquires Dublin hotel

    3 Jun 2022

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has acquired a hotel building currently under construction in the heart of Dublin, Ireland, on behalf of its European Real Estate Long Income (E-RELI) Fund.

  • Aviva Investors secures £1 billion of capital commitments into Real Estate Long Income strategies during 2020

    30 Mar 2021

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has revealed its Real Estate Long Income (RELI) team secured £1 billion of new capital commitments over the course of 2020. The figure, a record number, was driven by increased investor demand for an asset class which has performed well despite a challenging environment following the global pandemic. 

  • Aviva Investors Lime Property Fund completes sale-and-lease back deal with Next PLC Three Logistic Warehouse

    12 Mar 2021

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has completed the acquisition of three logistics warehouses from Next plc (‘Next’) through its Lime Property Fund for a total commitment of £107m.

  • Aviva Investors Real Estate Long Income Fund completes £22.4 million forward funding of office space in Stirlingshire

    10 Mar 2021

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced that it has completed a forward funding agreement of £22.4 million for the first office facilities at Kildean Business Park, Stirling, which is currently being developed by the Stirling Development Agency.

  • Aviva Investors completes purchase of £106 million development site in East London

    15 Jan 2020

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has acquired, through its Lime Property Fund, the freehold interest in a hotel development site in the Docklands, East London, adding to its portfolio of high-quality, long-income real estate assets. The deal represents significant investment in the area through the creation of new homes, jobs and a hotel located within close proximity to Canary Wharf.

  • Aviva Investors completes financing of new intercity trains for west coast partnership rail franchise

    9 Dec 2019

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), today announced it will provide over £200 million of debt-financing, on behalf of Aviva UK Life and other third-party clients, towards a fleet of new rolling stock for the West Coast Partnership rail franchise, which will operate under the new ‘Avanti West Coast’ rail service, on one of the UK’s busiest rail lines.

  • Aviva Investors fund a new shopping experience in the heart of Stevenage Town

    5 Dec 2019

    Aviva Investors, the global asset manager business of Aviva plc, has provided funding to Stevenage Borough Council (SBC) and the Reef Group for  the £50m Queensway North Regeneration scheme comprising the former Marks & Spencer and adjoining retail parade to spearhead. 

  • Aviva Investors completes Spanish fibre-to-the-home investment

    3 Dec 2019

    Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has reached financial close on a deal which will see it provide financing for the acquisition of a fibre-to-the-home network, expected to become the first independent wholesale bitstream operator in Spain.

  • Aviva Investors refinances police investigation centres

    28 Nov 2019

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), today announced it has provided an £85 million senior fixed-rate term-loan facility, refinancing six operational police investigation centres (“PICs”) across Norfolk and Suffolk, on behalf of the annuity business of Aviva UK Life.

  • Aviva Investors provides financing for new east midlands railway trains

    22 Aug 2019

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), today announced it has provided senior debt financing in the recently-closed £400 million deal towards a new fleet of trains for Abellio UK’s newly-renamed East Midlands Railway franchise. Aviva Investors was the largest funder within the group of investors.

  • Aviva Investors recognised at IJGlobal Awards

    14 Aug 2019

    Aviva investors, the global asset management business of Aviva plc (‘Aviva’), has been recognised as ‘Alternative Lender of the Year’ at this year’s IJGlobal Awards for Europe and Africa, which recognise excellence and innovation in the international infrastructure and energy sectors.

  • Aviva Investors completes purchase of care home portfolio

    24 Jul 2019

    (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has acquired the freehold interest in a group of five care homes through its Lime Property Fund as it continues to develop its portfolio of high-quality long income real estate assets in the UK.

  • Aviva Investors commits to the €1.45 billion beacon rail refinancing

    17 Jul 2019

    Aviva investors has reached financial close on Beacon Rail’s EUR 1.45bln debt raise to refinance existing facilities and provide expansion funding to support the continued growth of their business.

  • Aviva Investors launches Sustainable Income and Growth Fund

    10 Jul 2019

    (London) – Aviva Investors, the global asset management arm of Aviva plc (‘Aviva’), today launches a multi-asset fund to help deliver long-term sustainable income for people planning their retirement.