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United Kingdom

Greencoat acquires four UK wind projects

UK: Investment fund Greencoat UK Wind has acquired a 51.6% stake in four UK projects with a total capacity of 87.5MW from the AES Corporation.

The 28.6MW Drone Hill project in south-east Scotland has been operating since August 2012
The 28.6MW Drone Hill project in south-east Scotland has been operating since August 2012

Greencoat has acquired the portfolio with investment firm Swiss Life Asset Managers, which has bought the remaining 48.4%, for a total of £90.6 million (EUR 113.5 million).

The four projects under the deal include the 20.5MW Sixpenny Wood in Yorkshire, north-east England, and the 16.4MW Yelvertoft wind farm in central England, both operating since July 2013 and using ten and eight Senvion MM92 turbines respectively.

The other two projects are the North Rhins wind farm in western Scotland with a capacity of 22MW from 11 Vestas V80 2MW turbines, which has been in operation since December 2009; and the Drone Hill wind farm in south-east Scotland, which has been operating since August 2012 with a capacity of 28.6MW using 22 Nordex N60/1300 turbines.

With these acquisitions, Greencoat's wind portfolio net capacity has expanded to 271.5MW, including the 90MW Rhyl Flats offshore project in north Wales, in which Greencoat holds a 24.95% stake.

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