Greencoat UK Wind makes GBP-87m purchase in N Ireland

Wind turbines. Author: Vik Walker. License: Creative Commons, Attribution 2.0 Generic.

December 14 (Renewables Now) - Greencoat UK Wind Plc (LON:UKW), a renewable infrastructure fund managed by Greencoat Capital LLP, said today it has bought two wind parks with a combined capacity of 50.6 MW.

The fund has acquired the 18.4-MW Church Hill wind park and the 32.2-MW Crighshane wind farm from the Irish Infrastructure Fund and the Viridian Group for a total of GBP 87 million (USD 109m/EUR 97m). The purchase price includes the prepayment of existing project finance debt facilities.

Both facilities are located in County Tyrone, Northern Ireland, and consist entirely of Enercon E70 turbines. They have been generating power since July 2012, receiving 1 Renewable Obligation Certificate (ROC) per MWh.

The latest acquisitions increase Greencoat UK Wind's net generating capacity to 836 MW. The fund has used its revolving credit line and group cash to pay for the purchases.

(GBP 1.0 = USD 1.254/EUR 1.112)

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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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