Greencoat UK Wind (UKW) is to acquire minority stakes in the 228MW Stronelairg and 94MW Dunmaglass wind farms in Scotland from SSE in partnership with an unnamed UK pension fund managed by Greencoat Capital.
UKW will acquire a net 35.5% stake in the wind farms for a consideration of £452m including cash and working capital, while the managed account will acquire a net 14.4% for £183m.
SSE will continue to hold the remaining 50.1%.
The target date for completion of the acquisition is 29 March.
SSE Renewable director designate Jim Smith said: “The sale is in line with SSE’s strategy to create value from development and operation, as well as ownership, of assets.”
Jefferies International Limited and RBC Capital Markets acted as financial advisers to UKW and the Greencoat Capital managed account.
The 66-turbine Stronelairg located near Fort Augustus was commissioned in December 2018 and has a load factor of 43%.
The 33-turbine Dunmaglass south of Inverness was commissioned in December 2017 and has a load factor of 44%.