Announced
Financials
Tags
Alternative Fuels
Acquisition
Pending
Private
wind farm
Single Bidder
Private Equity
United Kingdom
Synopsis
Greencoat UK Wind has entered into an agreement to acquire the Douglas West wind farm from Blue Energy. Douglas West is located 7 miles south west of Lanark, Scotland and will have a total capacity of 45MW, and will be subsidy free. Construction is expected to start in 2019, with the commencement of commercial operations targeted for July 2021. Acquisition and construction costs will total approximately £45m ($57m) over the period January 2019 to July 2021, which is expected to be funded through reinvestment of UKW's excess cash flow. We are pleased to have reached an agreement to acquire Douglas West. Once operational, Douglas West will sit alongside our existing 32 ROC investments and, with Tom nan Clach also incorporated, will increase our generating capacity to 910MW as part of our balanced portfolio." Tim Ingram, UKW Chairman.
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