Italian wind operator ERG has today finalised its acquisition of the 25MW Craiggore wind project in Northern Ireland from RES.
The total investment by ERG for the subsidy-free wind farm is approximately £37m.
RES will begin construction of the 10-turbine project during the fourth quarter of 2019.
Start-up, following completion of the connection to the national grid, is scheduled to take place by April 2021. The project will participate in the integrated single energy market (I-SEM).
RES will operate the project under an asset management agreement for ERG.
RES development and construction managing director Lucy Whitford said: “This is a major milestone for RES and the wider renewables industry.
“This sale marks the start of a new era for renewables, where it is possible to deliver decarbonisation at the lowest cost for consumers. We look forward to starting construction and managing the wind farm for ERG once it becomes operational.”
Craiggore Wind Farm is the first in a consented UK onshore wind portfolio of over 200MW developed by RES that the company plans to bring to financial close on a subsidy-free basis within the next year.
The acquisition takes ERG’s construction pipeline in the UK from 163MW to 188MW.