Between 2011 and 2013, AGR conducted a comprehensive review of Aggregate Industries’ extensive land portfolio, comprising approximately 250 sites across the UK. The objective was to identify locations capable of supporting renewable energy generation while contributing to the company’s carbon reduction goals.
Case Study
Aggregate Industries
Between 2011 and 2013 AGR reviewed the Aggregate Industries land portfolio of 250 sites to look for those that might accommodate renewable energy projects and help the business reduce its carbon footprint.
Technology
Onshore Wind
Date
2013
Partners
Project Overview
500kW wind turbine projects emerged as the most commercially viable solution. These projects benefited from the UK’s Feed-in Tariff, which provided financial incentives for renewable generation. This model enabled Aggregate Industries to access free electricity on-site while also benefiting from government-backed subsidy revenues.
Over a 24-month delivery period, AGR successfully developed, installed, and commissioned EWT turbines across three operational sites: Erith Blockworks in the London Borough of Bexley, Backlane Quarry in Lancashire, and Melbur Blockworks in Cornwall. Each site presented its own logistical and operational challenges, requiring careful planning, coordination, and adaptation to ensure seamless integration with ongoing industrial activities.
The projects were delivered through a collaborative partnership structure, with Aggregate Industries providing critical land access and site support, while Investec delivered the necessary construction financing to enable timely execution. This coordinated approach not only ensured efficient project delivery but also minimized disruption to existing operations. As a result, AGR was able to deploy distributed renewable energy assets effectively across active industrial sites, contributing to increased on-site energy resilience, reduced carbon emissions, and a broader transition toward sustainable infrastructure within the industrial sector.
The operational assets were subsequently consolidated into the PIP Wind Portfolio as part of the Golden Square Energy joint venture, established in partnership with Ingenious. This strategic consolidation brought together a number of successfully developed wind projects under a single, structured investment platform, enhancing both operational efficiency and portfolio visibility.
Through careful management and ongoing optimisation, the joint venture was able to maintain strong performance across the assets, ensuring reliable energy generation and stable, subsidy-backed revenue streams. Following a period of successful development and operation, the portfolio was ultimately sold to Foresight Group (formerly known as PIP), marking a significant milestone in the asset lifecycle.
This exit not only validated the long-term value of well-structured, strategically developed renewable energy assets, but also underscored AGR’s expertise in originating, delivering, and ultimately monetising clean energy portfolios. The transaction highlighted the attractiveness of subsidy-supported infrastructure investments to institutional investors and demonstrated AGR’s ability to create scalable, investment-grade opportunities within the renewable energy sector.
