Georgia Capital has acquired the 21MW Qartli wind farm located in the European country of Georgia for over $14m.
Qartli is the only operational wind farm in Georgia and has an average capacity factor of 47%.
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It generates approximately 85 gigawatt-hours of electricity a year.
The wind farm benefits from a guaranteed price of $65 a megawatt-hour through a power purchase agreement with the government of Georgia for the next 10 years.
The acquisition is expected to add $4m in earnings to Georgia Capital’s renewables business in 2020.
Georgia Capital said the acquisition raises installed capacity to 91MW in its renewable energy business.