Fred Olsen Renewables is selling a 49% stake in two operational Scottish onshore wind farms to Aviva Investors.
The Norwegian company will receive £117.3m for the shares in the Crystal Rig 3 and Brockloch Rig projects in the south of the country.
The projects in the Borders and Dumfries and Galloway, respectively, feature distinct phases in larger wind clusters.
Total capacity included in the deal is 75.3MW. Crystal features six Siemens 2.3MW turbines and 30 Senvion 2.05MW machines are in play at Brockloch, formerly known as Windy Standard 2.
In a separate transaction, Fred Olsen is considering entering into a secured facility agreement with banks of approximately £65m.
Cash from the financing and the transaction will be used to invest in potential renewable energy projects and/or for other corporate purposes, said Fred Olsen.
Image: the Crystal Rig wind complex in southern Scotland (Aecom)
Fred Olsen splits Scottish stable
By EBS