Greencoat buys Scots wind farm developments for £104m
Windfarms like this one at Whitelee are due in Dumfries & Galloway
Greencoat UK Wind has acquired two proposed wind farms in Scotland in a deal worth £104 million.
The Windy Rig and Twentyshilling farms are planned for Dumfries & Galloway and have been bought from Statkraft UK.
Construction is expected to begin shortly, with the acquisition targeted to complete in Q2 2021 and Q3 2021 respectively, once each wind farm is fully operational.
Windy Rig (43.2MW) and Twentyshilling (37.8MW) are subsidy free projects and were developed by Element Power, acquired by Statkraft in September 2018.
Statkraft will manage the construction of both wind farms and will provide route-to-market and operational management services for the wind farms once operational.
Tim Ingram, chairman of UKW, commented: “This transaction follows, and is very similar to, our recently announced Glen Kyllachy acquisition from Innogy, with acquisition completion occurring upon the successful commissioning of the wind farms.
“We are delighted to partner with Statkraft on this transaction, demonstrating that UKW is the continuing partner of choice for utilities, who are well placed to retain and manage the risks associated with wind farm construction.”