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.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- Standardising specifications: a new approach
- OPINION: Victim’s son fears another Piper Alpha is ‘just around the corner’
- OPINION: Contractor lawyers in demand as firms reluctant to return to bloated workforces
- OPINION: Are Electric Vehicles changing BP’s business model?
- OPINION: Where helicopter safety is concerned, regulations matter