Capital Dynamics buys 23.1-MW subsidy-free wind project in N Ireland
Wind turbines in UK. Author: Stephen Jones. License: Creative Commons. Attribution 2.0 Generic
May 27 (Renewables Now) - Asset manager Capital Dynamics has finalised the acquisition of a 100% stake in a 23.1-MW zero-subsidy onshore wind project in Northern Ireland.
The firm’s Clean Energy Infrastructure (CEI) business purchased the project from developer ABO Wind NI Ltd for an undisclosed sum. Capital Dynamics said on Tuesday that construction of the Castlegore Wind Farm is slated to begin later this year, with commercial operations to be launched by early 2022.
The subsidy-free project will operate under a long-term power purchase agreement. Once fully completed, the power plant will be capable of producing enough electricity to supply over 156,000 homes per year.
“The United Kingdom remains a robust market for our specialized investment platform focused on renewable energy assets,” said Simon Eaves, managing director and head of Capital Dynamics’ European Clean Energy Infrastructure team. He added that onshore wind and solar power are seen to remain “an attractive investment proposition” as they are offering long-term off-take and asset owners move away from fossil fuels.
Pinsent Masons was Capital Dynamics’ legal counsel on the acquisition and Wood Group served as lead technical advisor.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.