October 10 (Renewables Now) - Greencoat UK Wind Plc (LON:UKW) said today it has signed a deal to buy the 48.5-MW, shovel-ready Glen Kyllachy wind project in the Scottish Highlands.
The renewable infrastructure fund, which is managed by Greencoat Capital LLP, will acquire the said wind park from Innogy Renewables UK Ltd for a headline consideration of GBP 57.5 million (USD 70.3m/EUR 63.8m).
Glen Kyllachy is a subsidy-free wind park planned for a site to the south of Inverness. Construction work on that facility is ready to start, with completion scheduled for October 2021. That is when the newly announced transaction will close, UKW said.
“Together with the recent acquisition of Douglas West, this brings our commitments to subsidy free wind farms to just over GBP 100 million, complementing our recent GBP 145 million investment in Tom nan Clach, with its fixed price CFD revenues, and our GBP 2.3 billion ROC portfolio,” commented Tim Ingram, chairman of UKW.
UKW is now invested in 35 operating UK wind farms with net generating capacity of 979 MW.
(GBP 1.0 = USD 1.222/EUR 1.109)