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Greencoat UK Wind acquires stake in two Scottish wind farms
StockMarketWire.com
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Wind farm investor Greencoat UK Wind sad it had acquired stakes in two Scottish wind farms for a combined £99.5 million.
The company had acquired the remaining 50% interest in the 72 megawatt Braes of Doune wind farm for £48.1 million, from funds managed the international business of Federated Hermes.
Braes of Doune was located in Stirlingshire and comprised 36 Vestas V80 2MW turbines.
The wind farm was commissioned in June 2007, with Greencoat having acquired its original 50% stake at IPO in March 2013.
The company also had agreed to acquire a 49.9% interest in the 67.2MW Kype Muir Extension wind farm from Banks Renewables for £51.4 million -- to be paid once the project was fully operational in the fourth quarter.
Greencoat also would provide construction finance of up to £47 million, with first utilisation expected in July 2021.
Kype Muir Extension was located in South Lanarkshire and would comprise four Nordex 3.6MW turbines plus 11 Nordex 4.8MW turbines.
Story provided by StockMarketWire.com
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