Standard Life Investments

Portfolio

We seek to build a diversified portfolio of core/core+ infrastructure assets across utilities, transport and energy infrastructure in Europe. Below you will find some of the investments we have made. Find out more about the assets and why we were attracted to the investment.

Nordic Power AS

In June 2015, we acquired 100% of Nordic Power AS, a portfolio of 13 newly commissioned hydropower plants from Nordkraft, a Norwegian utility controlled by the Narvik Municipality. Since acquisition, we have added an additional two plants to the portfolio, taking the total projected annual output to 160 GWh.

Key attractions:

  • Attractive return and yield profile
  • Core, power generation asset
  • Proven technology, low operating risk and long asset lives
  • Exclusive option over pipeline of new plants

Sector
Energy

Subsector
Hydro

Geography
Norway

Ownership
100%

Rock Rail East Anglia PLC

In September 2016, we signed an agreement to acquire 48% of RREA, its second transformational funding solution in the UK rolling stock sector. The transaction comprises 20x12 carriage electric Stadler trains, 24x4 and 14x3 carriage bi-mode Stadler trains serving the InterCity, Stansted Express and Regional lines of the East Anglia Franchise, operated by Abellio.

Key attractions:

  • Core UK rolling stock asset
  • Long term operating profile with no volume risk
  • Blue chip transaction counterparties
  • No refinancing risk
  • Immediate yield to SLCI I

Sector
Transport

Subsector
Rolling Stock

Geography
UK

Ownership
51% controlling position

Auris Kaasunjakelu Oy

In June 2015, we acquired 100% of Auris Kaasunjakelu, the largest natural gas distribution pipeline in Finland, from Gasum Oy, a Finnish state controlled company. The pipeline provides local gas distribution to Helsinki and 11 surrounding areas.

Key attractions:

  • Strong cash generation and yield
  • Core infrastructure asset with regulated return
  • Safe and stable operating and regulatory environment
  • Safe, stable operating environment
  • Recently upgraded asset base and low capex requirement
  • Growth opportunities through acquisition

Sector
Utilities

Subsector
Gas Distribution

Geography
Finland

Ownership
100%

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