logo-loader
viewGreencoat UK Wind PLC

Greencoat UK Wind - Acquisition of Windy Rig and Twentyshilling

RNS Number : 5468X
Greencoat UK Wind PLC
20 December 2019
 

20 December 2019

 

Acquisition of Windy Rig and Twentyshilling

 

Greencoat UK Wind PLC ("UKW") is pleased to announce that it has agreed to acquire the Windy Rig and Twentyshilling wind farms from Statkraft UK Limited ("Statkraft") for a combined consideration of £104 million, to be paid on completion. Construction of the wind farms is expected to commence shortly, with the acquisition targeted to complete in Q2 2021 and Q3 2021 respectively, once each wind farm is fully operational.

 

Windy Rig (43.2MW) and Twentyshilling (37.8MW) are subsidy free projects located in Dumfries & Galloway and were originally developed by Element Power (acquired by Statkraft in September 2018). Statkraft will manage the construction of both wind farms and will provide route-to-market and operational management services for the wind farms once operational.

 

Tim Ingram, Chairman of UKW, commented: "This transaction follows, and is very similar to, our recently announced Glen Kyllachy acquisition from Innogy, with acquisition completion occurring upon the successful commissioning of the wind farms. We are delighted to partner with Statkraft on this transaction, demonstrating that UKW is the continuing partner of choice for utilities, who are well placed to retain and manage the risks associated with wind farm construction."

 

For further information, please contact:

 

Greencoat UK Wind PLC                               020 7832 9425

Stephen Lilley

Laurence Fumagalli

Tom Rayner

 

Headland Consultancy                                  020 3805 4822

Stephen Malthouse

Rob Walker

Charlie Twigg

 

Notes to Editors:

 

Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in 35 operating UK wind farms with net generating capacity of 979MW. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (6.94p for 2019) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of gearing.

 

UKW is managed by an experienced team at Greencoat Capital LLP, a leading European renewable investment manager with over £4 billion of assets under management. UKW is governed by a strong and experienced independent board.

 

UKW is incorporated in England and Wales and is a UK Investment Trust.

 

For more information about UKW, please visit http://www.greencoat-ukwind.com

 

For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
ACQTLBATMBJBBAL

Quick facts: Greencoat UK Wind PLC

Price: 145

Market: LSE
Market Cap: £2.2 billion
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: Lloyds ends PPI headache; Sirius Minerals 'is quality' says...

Headlines from the Proactive UK newsroom. Anglo American (LON:AAL) has repeated that Sirius Minerals (LON:SXX) is a “quality” investment which is expected to “fit well” with the FTSE 100 group’s strategy. Anglo, which has made a bid for the firm, says the project in North Yorkshire is...

3 days, 13 hours ago