Greencoat UK Wind has acquired two wind farms in Northern Ireland totalling just over 50MW.
The company has purchased the 18.4MW Church Hill and 32.2MW Crighshane projects, both in Tyrone.
The wind farms, which have been operational since 2012, were owned by the Irish Infrastructure Fund, a fund jointly managed by AMP Capital and Irish Life Investment Managers. Viridian Group held a minority stake.
Total consideration is £87m including the prepayment of existing project finance debt facilities.
Funds mainly came from Greencoat UK’s revolving credit facility with £7m in group cash invested in the acquisition.
Greencoat UK chairman Tim Ingram said the projects, which feature Enercon E-70 turbines, have strong operation track records and will deliver “attractive” returns for investors.