Greencoat UK Wind has completed the acquisitions of two operational wind farms in Scotland totalling over 90MW.
The investor has taken the reins at the 43.2MW Windy Rig and 48.5MW Glen Kyllachy wind farms.
Windy Rig, developed by Statkraft, is a subsidy free project located near Castle Douglas in Dumfries & Galloway and comprises 12 Vestas V112 3.6MW turbines.
Glen Kyllachy, developed by RWE, is a 48.5MW subsidy free project located in the Highlands, 11 miles south of Inverness and comprises 20 Nordex N90 2.5MW turbines.
The additions increases Greencoat’s net generating capacity to 1,422MW and the number of subsidy free assets in UKW’s portfolio to three from a total of 43 operating wind farms.
Both projects have been funded through reinvestment of excess cashflow and proceeds from the Equity Raise in November 2021.
Additionally, Greencoat has entered into an agreement with AXA to provide an 8-year £200 million debt facility which will be used to repay the revolving credit facility.
This will enable UKW to continue to capitalise on the strong pipeline of opportunities in the UK wind farm market, both onshore and offshore.