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
Headland Consultancy 020 3805 4822
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.
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