26th Nov 2015 09:06
LONDON (Alliance News) - Renewable energy infrastructure investor Greencoat UK Wind PLC on Thursday said it has agreed a deal to acquire the Stroupster Wind Farm in Scotland for GBP85.0 million.
It has acquired the project from BayWa Re Renewable Energy GmbH, a subsidiary of German agriculture, building materials and energy group BayWa Group, and the deal will include the prepayment of existing indebtedness and will be funded by Greencoat's existing debt facilities.
Stroupster Wind Farm is based in Caithness and has a capacity of 29.9 megawatts.
"We are pleased to announce the acquisition of Stroupster Wind Farm, a further high quality addition to our operating portfolio and an expansion of our existing and successful relationship with BayWa. We continue to pursue other near term acquisition opportunities, but remain disciplined in only executing on opportunities that deliver attractive investment returns, consistent with our existing portfolio," said Greencoat Chairman Tim Ingram.
Shares in Greencoat were up 0.2% to 109.25 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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