Energy News Today

Greencoat UK Wind PLC lifts net generating capacity above 1Gw with Walney purchase



“The acquisition is our third offshore wind farm investment since listing in 2013,” the group noted

(), the FTSE 250-listed specialist wind farm investor, said it has agreed to acquire SSE’s 25.1% interest in the Walney I and II offshore projects for £350mln.

Walney is located nine miles off the Cumbrian coast and has a capacity of 367Mw.

Greencoat said it will fund the purchase from its £400mln acquisition facility, which will push total borrowing up to £980mln or 35% of gross asset value.

In a statement, Shonaid Jemmett-Page, Greencoat UK Wind’s chairman said:  “We are delighted to acquire SSE’s 25.1% interest in Walney, which is a high quality, ROC accredited asset.

“The acquisition is our third offshore wind farm investment since listing in 2013, following our investments in Rhyl Flats and North Hoyle.

“Walney is a natural addition to our portfolio of operating UK wind farms and increases our net generating capacity to over 1GW for the first time.”

The wind farm was constructed in two phases in 2011 and 2012 by Danish firm Orsted, which remains the operator with a 50.1% stake.



Read More: Greencoat UK Wind PLC lifts net generating capacity above 1Gw with Walney purchase

2020-09-01 05:33:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: