Greencoat to acquire Glen Kyllachy Wind Farm for £57.5m.

Greencoat UK Wind ("UKW") agreed to acquire the Glen Kyllachy wind farm from Innogy Renewables UK for a headline consideration of £57.5m, to be paid on completion. Construction of the wind farm is ready to commence, with the transaction targeted to complete in October 2021, once the wind farm is fully operational. Glen Kyllachy is a 48.5MW subsidy free project located in the Highlands, 11 miles south of Inverness and close to UKW's Stronelairg, Dunmaglass, Corriegarth and Tom nan Clach investments. "We are pleased to add Glen Kyllachy to the UKW portfolio. Together with the recent acquisition of Douglas West, this brings our commitments to subsidy free wind farms to just over £100m, complementing our recent £145m investment in Tom nan Clach, with its fixed price CFD revenues, and our £2.3bn ROC portfolio. We are delighted to partner again with Innogy, who have the expertise and resources to deliver a high quality operational wind farm," Tim Ingram, Greencoat UK Wind Chairman.