March 30 (Renewables Now) - Greencoat UK Wind PLC (LON:UKW) said today it has finalised the acquisition of an 18.8-MW wind park in Northern Ireland from SSE Plc (LON:SSE).
The deal with the UK energy group was agreed last month. Under its terms, renewable infrastructure fund Greencoat has paid GBP 51 million (USD 63.2m/EUR 57m) to purchase the Slieve Divena II wind farm that was installed by SSE's renewables unit and commissioned in June 2017.
Located near Omagh in County Tyrone, the power plant is adjacent to the 30-MW Slieve Divena I wind park, already owned by Greencoat UK Wind. It receives 0.9 renewables obligation certificates (ROCs) per MWh and has in place a long-term power purchase agreement (PPA) with SSE Airtricity, SSE's local retail brand.
Greencoat UK Wind, which is managed by Greencoat Capital LLP, financed the transaction with funds from its acquisition facility and reinvestment of GBP 24 million in portfolio cash.
(GBP 1.0 = USD 1.239/EUR 1.119)