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Greencoat UK Wind PLC buys Andershaw wind farm for £121mln

Greencoat UK Wind PLC said it agreed to acquire the 35 megawatts (MW) Andershaw wind farm from Statkraft UK Ltd for £121mln, increasing its portfolio to 39 wind farms with a generating capacity of 1,244MW.

Andershaw, which is located near Douglas in South Lanarkshire, comprises 11 Vestas V117 3.3MW turbines. The wind farm has a load factor of 34.8% and benefits from 0.9 Renewables Obligation Certificates (ROCs) per MWh. It has entered into a power purchase agreement with Statkraft until 2037 who will also provide management services to the wind farm.

Greencoat said the acquisition will be funded from its revolving credit facility and gearing will increase to £1.05bn of outstanding debt, equating to 30% of gross asset value.

Shonaid Jemmett-Page, chairman of UKW, said: “Our pipeline of potential acquisitions remains healthy and we look forward to adding further attractive growth opportunities in due course as we continue to play our role in helping to decarbonise the UK economy.”

READ: Greencoat UK Wind appoints net zero expert to board

Read More: Greencoat UK Wind PLC buys Andershaw wind farm for £121mln

2021-09-28 03:24:00

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