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New Deal


Announced

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

Financials

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Transaction Value£633m
Consideration Type-
Capital Owned50%
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

wind energy

Private Equity

Minority

United Kingdom

wind farms

Private

Pending

Alternative Electricity

Single Bidder

Synopsis

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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."

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