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United Kingdom

United Kingdom

Greencoat acquires 90MW portfolio

UK: Greencoat has bought the North Hoyle and Slieve Divena wind farms from JP Morgan Asset Management for around £105 million (€115.5 million).

The 60MW North Hoyle project was completed in 2004 (pic: Christopher Jones)
The 60MW North Hoyle project was completed in 2004 (pic: Christopher Jones)

North Hoyle is situated 8km offshore in Liverpool Bay, and has a capacity of 60MW. Developed by Innogy, it was the UK's first major offshore wind farm when commissioned in 2004.

The 30-turbine project became part of Zephyr's portfolio from 2005. JP Morgan bought Infracapital's 33% stake in Zephyr in March of this year.

The 30MW Slieve Divena is located in County Tyrone, Northern Ireland. It was developed by SSE and was part of Infinis' portfolio from 2011. The site was commissioned in March 2009 and receives one renewables obligation credit (ROC) per megawatt hour under the UK's old support sytem.

The deals follows Greencoat's announcement it had bought an additional 2.8% stake in Clyde for £38 million (€41.8 million) earlier this month, taking its share to 35%, which is jointly owned with UK pension fund GLIL.

The acquisitions bring Greencoat's net generating capacity up to 547MW.

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