RELA buys UK renewable lease portfolio, launches Prepay

RELA has acquired a portfolio of renewable energy lease interests in the UK and has launched its Prepay business in the British market.

The acquisition gives the Australian renewable energy land specialist immediate scale in the UK and makes it one of the country's largest holders of renewable energy lease portfolios.

The transaction is backed by equity from funds managed by Oaktree and debt financing from funds managed by Macquarie Asset Management. RELA said the funding structure is intended to support its expansion in Britain and its offer to landowners seeking upfront payments against future lease income.

The move brings an Australia-developed business into the UK market, where renewable energy lease arrangements are becoming more common as wind and solar projects spread across rural land. As a result, landowners are increasingly considering how to use long-term lease income for farm operations, debt management, family succession and broader estate planning.

RELA's Prepay product allows landlords to receive the value of future renewable energy lease payments in a lump sum while retaining ownership of the land. The company has spent more than two years adapting the product for the UK market.

Under the model, developers can offer host landowners an additional financial option without altering project economics, according to RELA. Its role centres on acquiring lease interests and arranging prepayments linked to contracted lease income.

UK Expansion

The acquisition gives RELA an established portfolio to build on, rather than forcing it to originate every transaction from scratch. That matters in a market where advisers and landowners often look for a track record and balance-sheet support before entering into long-term arrangements tied to infrastructure projects.

RELA now manages one of the UK's largest portfolios of renewable energy leases. Financial terms were not disclosed, but the institutional backing from Oaktree and Macquarie points to a strategy focused on long-duration assets that can generate predictable income streams.

For Macquarie Asset Management, the financing adds exposure to lease payments linked to renewable energy projects. For Oaktree, the equity backing provides a stake in a platform targeting a specialist niche of the energy transition economy.

Landowner Focus

Renewable energy developers in Britain typically need long leases over agricultural or rural land to host wind, solar and related infrastructure. Those leases can provide steady income for decades, but they can also leave landowners asset-rich on paper while they wait for payments to accrue.

Products that monetise those future cash flows aim to address that gap. Landowners may want earlier access to capital to expand a farming business, buy adjoining property, reduce borrowings, diversify income or prepare for an estate transfer.

That creates an opening for businesses able to price and fund future lease revenues. The challenge is balancing landowner interests, developer relationships and the long-term nature of renewable energy projects.

RELA said its experience in Australia has involved working with landowners, advisers and industry participants on land access and lease structures. It believes the same approach can be applied in Britain as the market matures.

Stuart Gourley, Chief Product Officer, RELA, said, "Completing this transaction is a major milestone for RELA and the formal launch of our UK platform. Landowners want the flexibility to capitalise their long-term renewable energy leases to support succession planning, growth, diversification, debt repayment and property acquisitions. Prepay is built specifically for that purpose, backed by leading global institutions and designed to support long-term land and estate planning objectives without changing ownership of the underlying land asset."

Investor Interest

The financing behind the UK launch also reflects broader investor appetite for infrastructure-linked income tied to renewable energy. Lease cash flows connected to operating projects can appeal to asset managers seeking long-term returns with inflation linkage.

Gareth Edwards, Senior Vice President, Macquarie Asset Management, said, "We are pleased to support RELA's UK launch and the expansion of its Prepay product with a long-term, bespoke debt financing solution that offers our clients access to stable, inflation-linked cash flows supported by renewable energy generation leases. RELA brings strong expertise to the market, and we look forward to working together to support landowners and advisers as the UK's energy transition progresses."

Bertie Radcliffe, Senior Vice President at Oaktree, said, "We are delighted to be partnering with RELA and Macquarie on this important transaction and we look forward to supporting the growth and scaling of the platform over the months and years ahead"