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Greencoat UK Wind PLC - London-based investment manager - Completes the acquisition of a net 13% stake in Hornsea 1 offshore wind farm.
In May, the company said it is buying the stake from Global Infrastructure Partners in a transaction worth £400 million. It was part-funded by £2.9 billion of limited recourse debt. Greencoat's pro rata share of this debt is £700 million, giving its 13% stake a total enterprise value of £1.1 billion.
The Hornsea 1 offshore wind farm is located 80 miles off the Yorkshire coast in the North Sea.
Current stock price: 161.28 pence
12-month change: up 24%
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