October 17 (Renewables Now) - Switzerland-based asset manager Capital Dynamics today announced it has agreed to acquire a 50% interest in a 28.5-MW wind farm in Scotland from GE Energy Financial Services.
The definite agreement was signed between Capital Dynamics’ Clean Energy Infrastructure (CEI) business and the financial services unit of conglomerate General Electric (NYSE:GE). The parties did not provide any financial details about the deal.
Located in Scotland’s Dumfries and Galloway council area, the Whiteside Hill wind park uses 10 units of GE’s 2.85-MW turbines, which have been generating electricity since March. The plant is expected to be accredited under the UK Renewables Obligation (RO) scheme and receive 0.9 Renewable Obligation Certificates (ROCs) per MWh until 2037.
CD Arevon UK, an affiliate of Capital Dynamics, will provide asset management services for the wind park.
Capital Dynamics noted that through CEI it has USD 4.9 billion (EUR 4.2bn) of assets under management in the clean energy sector and has invested in 464 MW of net onshore wind power capacity as of October 1.
(USD 1.0 = EUR 0.866)