Greencoat Capital and anonymous pension fund to 49.9% stake in its Stronelairg and Dunmaglass wind farms for £635m.

Greencoat UK Wind PLC agreed to acquire 49.9% stakes in the Stronelairg and Dunmaglass wind farms from SSE, in partnership with a major UK pension fund whose investment is 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%. Laurence Fumagalli of Greencoat Capital commented: "We are pleased to add two more large wind farm investments to our portfolio, located close to our existing capacity in the Highlands. We continue to see a strong pipeline of acquisition opportunities, and our independence and our proven track record in execution and operations makes us an attractive partner for utility vendors looking to recycle capital."