Greencoat UK has bought a wind farm in the Scottish borders for £39.8million.
The acquisition of the 10 turbine Langhope Rig wind farm brings the company’s net generating capacity to 436MW.
Greencoat bought the facility from GE (NYSE:GE) Energy Financial Services
The acquisition, which completed on 24 March 2017, was funded by Greencoat’s revolving credit facility (£37 million) plus cash resources (£2.8 million).
Langhope Rig is located near Hawick in the Scottish Borders, and has a capacity of 16MW and a forecast net load factor of 33%.
It was originally developed and constructed by SSE, was commissioned in December 2015, and receives 0.9 ROCs per MWh.
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