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Greencoat UK Wind to buy 18.8-MW park from SSE

Slieve Divena II wind farm in County Tyrone, Northern Ireland. Source: SSE (www.sse.com)

February 20 (Renewables Now) - Greencoat UK Wind PLC (LON:UKW) on Thursday said it will purchase an 18.8-MW wind park in Northern Ireland from UK energy group SSE Plc (LON:SSE.

The renewable infrastructure fund, which is managed by Greencoat Capital LLP, will pay GBP 51 million (USD 66m/EUR 61m) for the Slieve Divena II wind farm. Located near Omagh in County Tyrone, it has been installed by SSE's renewables unit and commissioned in June 2017.

The wind park receives 0.9 renewables obligation certificates (ROCs) per MWh and has a load factor of 31.3%, according to the statement. SSE Renewables will manage the wind asset, which is adjacent to the 30-MW Slieve Divena I wind park, already owned by Greencoat UK Wind. Both wind facilities have a long-term power purchase agreement (PPA) with SSE Airtricity, SSE's local retail brand.

This is the eight wind asset Greencoat UK Wind buys from SSE. It brings the company's net generating capacity to nearly 1 GW, chairman Tim Ingram said.

Greencoat used funds from its acquisition facility and also reinvested GBP 24 million in portfolio cash.

(GBP 1.0 = USD 1.291/EUR 1.195)
 

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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