Wind farm investor Greencoat UK Wind has struck an £85 million deal to acquire the 29.9MW Stroupster wind farm from BayWa.
In an announcement to the London Stock Exchange this morning, Greencoat said it expected to complete the deal on December 1 with acquisition debt provided by RBC, RBS and Santander.
Commissioned in October, Stroupster was developed by Npower Renewables and constructed by BayWa Renewable Energy, a subsidiary of the German listed BayWa Group. It is located in Caithness in northern Scotland.
It is the fourth wind farm that Greencoat has bought from the company and follows on from the 16.4MW Cotton Farm and 10.25MW Earl’s Hall Farm acquisitions in 2013 and the purchase of the 18.4MW Kildrummy Wind Farm in 2014.
Company Chairman Tim Ingram said: “We are pleased to announce the acquisition of Stroupster wind farm, a further high quality addition to our operating portfolio and an expansion of our existing and successful relationship with BayWa.
“We continue to pursue other near term acquisition opportunities, but remain disciplined in only executing on opportunities that deliver attractive investment returns, consistent with our existing portfolio.”
Image: Kildrummy wind farm (BayWa)
