Greencoat UK Wind is buying the Windy Rig and Twentyshilling subsidy-free wind farms in Scotland from Statkraft UK for £104m.
Construction of the 43.2MW Windy Rig and 37.8MW Twentyshilling, both located in Dumfries and Galloway, is due to start imminently.
Statkraft has agreed to transfer ownership of the projects to Greencoat UK Wind post-construction, with the former managing the construction and providing operational management services once the wind farms are exporting to the grid.
Windy Rig and Twentyshilling are due to reach operations in 2021 and the acquisitions are scheduled to complete in the second quarter of 2021 and third quarter of 2021 respectively.
Statkraft commercial vice-president Sean Maguire said: “We are delighted these projects have reached the next phase, and will continue to work closely with Greencoat UK Wind as the projects progress into construction and operations.”
“Windy Rig is our first subsidy-free wind project in the UK, and this investment decision is in line with our ambitions to develop our pipeline and deploy 600 MW of renewable projects in the UK by 2025,” Statkraft UK managing director David Flood added.
Windy Rig and Twentyshilling were originally developed by Element Power, which was acquired by Statkraft in September 2018.