Greencoat UK Wind PLC (LSE:UKW) has completed the acquisition of a 49.9% interest in the Kype Muir Extension wind farm from Banks Renewables.
Greencoat initially committed to acquiring the interest in December 2020 and the investment was made during the farm’s construction through a loan now repaid.
Completion of the acquisition takes Greencoat’s portfolio to 49 UK farms with a combined net generating capacity of 2,007 megawatts.
Greencoat aims to provide investors with an annual dividend that increases in line with retail price index inflation.