December 5 (Renewables Now) - Ancala Partners LLP said Monday it has inked a deal to sell UK hydropower plants (HPPs) owner Green Highland Renewables (GHR) to SIMEC, the energy arm of diversified group GFG Alliance.
The transaction is seen closing by the end of February 2018.
Ancala acquired GHR in April 2015 and since then the portfolio of the hydropower company has quadrupled in size. At present, GHR owns 18 operating HPPs with a total capacity surpassing 23 MW. It is developing an additional four totalling 8 MW.
Earlier in 2017, Ancala said it had raised GBP 51 million (USD 68.5m/EUR58m) of debt facilities for Green Highland Hydro. The latter was established as the asset ownership vehicle for hydro power assets developed by GHR.
(GBP 1.0 = USD 1.343/EUR 1.134)