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Greencoat UK Wind PLC

Acquisition of Tom nan Clach Wind Farm

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RNS Number : 6522C
Greencoat UK Wind PLC
18 June 2019
 

18 June 2019

 

Completion of investment in Tom nan Clach wind farm

 

Greencoat UK Wind PLC ("UKW") is pleased to announce that it has completed its investment in Tom nan Clach, which commenced commercial operations on 7 May 2019.

 

In line with the announcement on 5 October 2018, UKW has acquired Belltown Power's 75% stake in Tom nan Clach for a headline consideration of £126 million (including the prepayment of £57m of project finance debt). UKW has also prepaid the remaining £19m of project finance debt (total investment £145 million).

 

Tom nan Clach is located in Nairnshire, Scotland. The wind farm will benefit from a 15 year Contract for Difference ("CFD") of £92.80 (2019 real, CPI indexed) and comprises 13 Vestas V112 turbines, restricted to 39.1MW connection capacity. The forecast net load factor is 48% (based on 39.1MW capacity).

 

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 across a number of funds in wind and solar infrastructure. 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

 


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