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Greencoat UK Wind finalises investment in 39-MW Scottish asset

Wind farm in Scotland. Author: Neil Williamson. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

June 18 (Renewables Now) - Greencoat UK Wind Plc (LON:UKW), a renewable infrastructure fund managed by Greencoat Capital LLP, has wrapped up the acquisition of a majority stake in the 39.1-MW Tom nan Clach wind farm in Scotland.

More specifically, UKW has bought a 75% stake in the plant from Belltown Power for a headline consideration of GBP 126 million (USD 158m/EUR 141m), which includes prepaying GBP 57m of project finance debt. The investor has also prepaid the remaining GBP 19 million of project finance debt, the announcement says.

The particular wind farm commenced commercial operations in Nairnshire on May 7, 2019. It consists of 13 units of Vestas’ V112 turbines and has a forecast net load factor of 48%. The plant has a 15-year contract for difference (CfD) at GBP 92.80 per MWh.

(GBP 1.0 = USD 1.254/EUR 1.120)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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