Boost for renewable energy as £104m wind farm acquisitions announced

A national renewable infrastructure fund has agreed to acquire two wind farms for a combined consideration of £104m.

Greencoat UK Wind PLC (UKW) is set to purchase the Windy Rig and Twentyshilling wind farms from Statkraft UK Limited.

Subsidy free projects located in Dumfries & Galloway, construction of the wind farms is expected to begin in the near future, with the acquisition targeted to complete in Q2 2021 and Q3 2021 respectively once each wind farm is fully 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.”

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