ERG has acquired the consented 79MW Creag Riabhach wind farm in the far north of Scotland.
The Italian company has taken 100% of the wind farm in Sutherland from the estate owners and private developer shareholders for an undisclosed sum.
Construction of 22 turbines is scheduled to kick off in 2020 with full operations slated for March 2022. Total investment in the project is expected to total £89m.
“The project will participate in the energy and capacity services markets in the UK,” said ERG.
“With this operation ERG strengthens the path of organic growth abroad and in particular in the UK where secured construction capacity goes from 84MW to 163MW,” it added.
ERG has also completed a deal in France that will increase its installed capacity by 55MW by the end of the year.
In Italy, ERG is to set up a joint venture called ERG Q Solar1 with fund Quercus Assets Selection Sarl.
ERG Q Solar1 aims to acquire small PV plants of less than 1MW and has a total target of 150MW by the end of 2021.
Incorporation is expected to take place on or before 30 September.
Meanwhile, ERG reported adjusted consolidated earnings of €277m in the first half of year, up from €258m in the same period last year.
The company said the improved showing was down to growth in solar in Italy and wind energy across Europe.
Image: ERG
ERG finds Highland home
By EBS