German renewables developer BayWa RE has sold the Wathegar 2 wind farm to a UK fund.
British Strategic Investment Fund (BSIF), which is managed by London-based Gresham House Asset Management, acquired the 18.45MW asset, which features nine 2.05MW Senvion turbines.
BayWa co-head of wind energy projects Katy Hogg said: “We are happy to announce the realisation of yet another successful project in Scotland.
“The sale of the Wathegar 2 wind farm rounds off a very successful few years for our wind business in the UK”.
She added: “In 2019, we want to further expand our UK wind and solar development business and look forward to new and interesting projects in the New Year”.
BayWa recently announced the acquisition of the 18.8MW Tralorg wind farm, in South Ayrshire, Scotland with a 15-year Contract for Difference.
In addition to its projects business, BayWa also manages a portfolio of 1.9GW solar and wind assets.
BayWa UK managing director Gordon MacDougall said: “The sale of Wathegar 2 and the acquisition of Tralorg underline our ongoing commitment to the UK wind market.
“Together, these projects will help Scotland in its renewable energy transition and contribute to the government’s objective to generate the equivalent of 100% of Scotland’s gross annual electricity consumption from renewables by 2020”.
Gresham House New Energy investment director Wayne Cranstone said: “We are delighted to have completed the acquisition of Wathegar 2, our first renewable energy investment for BSIF.
“The project is close to the Wathegar 1 wind farm which is also managed by Gresham House Asset Management. Both wind farms enjoy high capacity factors typical of north- east Scotland. We look forward to realising the significant long-term value that we see in this project”.