Greencoat UK Wind Buys Scottish Wind Farm For GBP181 Million

Share this

LONDON (Alliance News) - Greencoat UK Wind PLC on Tuesday said it has bought Corriegarth wind farm from Invenergy Renewables LLC for GBP181 million.

Corriegarth is located approximately 20 miles south-west of Inverness in Scotland, on the eastern side of Loch Ness, and has a capacity of 69.5 megawatts.

The wind farm, which was commissioned in April, was developed and constructed by Invenergy and has a forecast net load factor of 35%. It receives 0.9 renewable obligation certificates per megawatt.

The acquisition was funded by Greencoat's acquisition facility, which has been increased to GBP400 million.

"We are very pleased with our latest acquisitions - high quality assets, which deliver an attractive investment return to our investors. The portfolio as a whole now provides sufficient electricity to power over 550,000 homes," Chairman Tim Ingram said.

Shares in Greencoat were trading down 0.6% at 121.8 pence on Tuesday.

By Karolina Kaminska; [email protected]; @KarolinaAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.