Investment company Greencoat is to acquire a 75% stake in the under-construction 39MW Tom nan Clach wind farm in the Scottish Highlands.
The £126m deal includes a share of project finance debt and is due to be completed in summer 2019 on the back of commercial operations.
Tom nan Clach holds a Contract for Difference, was developed by Infinergy and is being built by Belltown Power.
Vestas is supplying 13 of its V112 turbines and the capacity factor at the site south of Inverness is expected to be 48%. Erection of the headline hardware is ongoing following deliveries during the summer.
Greencoat UK Wind chair Tim Ingram said: “We are pleased to have reached agreement to acquire Tom nan Clach, a large, brand-new and high load-factor wind farm.
“This will be our first CfD investment and will sit alongside our 30 Renewable Obligation investments as part of a balanced portfolio.”
Greencoat capital man Stephen Lilley added: “We are starting to see attractive CFD and subsidy-free investment opportunities, of which Tom nan Clach is our first. These opportunities will complement our core RO investments and simple, low risk fund structure.”
However he added: “We expect the majority of future investments will continue to be made from the £50bn pool of UK wind farms accredited under the RO regime.”