Greencoat UK Wind PLC (LSE:UKW) has announced the completed acquisition of the South Kyle wind farm in Scotland from developer Vattenfall.
Having announced in April 2020 that the acquisition of the site would be finalised once development had finished, Greencoat confirmed the completed deal on Friday.
South Kyle is home to 50 turbines with a combined generating capacity of 240MW, equivalent to powering 190,000 homes.
Greencoat had agreed to acquire the site near Dalmellington for £320 million from Vattenfall in 2020, with the addition lifting the company’s total generating capacity to 1,973MW.
Under the terms of the 2020 deal, Vattenfall will manage the subsidy-free site for a minimum of 10 years, with energy from the farm also tied into a route-to-market power purchase agreement with the developer.