Wind farm in Scotland. Author: Neil Williamson. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.
Greencoat UK Wind plc (LON:UKW) said today it had acquired a 16-MW wind farm in Scotland from a unit of US conglomerate General Electric (NYSE:GE) for GBP 39.8 million (USD 50m/EUR 46m).
The deal with GE Energy Financial Services was closed on March 24 and brings the capacity of Greencoat UK’s portfolio to 436 MW, spread across 20 operating wind farms in the UK.
The Langhope Rig wind park is situated in the Scottish Borders. It was commissioned in December 2015 and receives 0.9 Renewables Obligation Certificate (ROC) per MWh of generated electricity.
The renewable infrastructure fund backed the transaction with a GBP-37-million revolving credit facility and GBP 2.8 million in cash. Following the acquisition, Greencoat UK Wind’s loans amount to GBP 137 million.
Greencoat UK Wind is managed by European renewable investor Greencoat Capital LLP. Earlier this month, the latter agreed to buy the Knockacummer and Killhills wind farms in Ireland, totalling 137 MW, through a newly-established firm.
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.