Scottish developer GreenPower has taken 100% ownership of its 46MW Carraig Gheal wind farm in Scotland after acquiring Ampere Equity Fund’s 50% share.
Carraig Gheal, located in Argyll and Bute, consists of 20 Siemens Gamesa 2.3MW turbines.
The project was commissioned in 2013 and benefits from support under the Renewables Obligation until 2033.
The finance for the acquisition was through a combination of GreenPower equity and mezzanine debt provided by the Sustainable Investments department of ING.
The wind farm has senior debt in place from ING, Sabadell and Santander which remains in place following the transaction.
GreenPower was advised by Ernst & Young LLP (financial) and CMS Cameron McKenna Nabarro Olswang LLP (legals).
Ampere was advised by KPMG (financial) and Watson Farley and Williams (legals), while ING was advised by Norton Rose Fulbright and Burness Paul.