Greencoat UK Wind PLC (LON:UKW) has acquired the Church Hill and Crighshane wind farms in Northern Ireland in a deal that has upped its net generating capacity to 836 megawatts (MW).
The FTSE 250 wind farm investor said it acquired the wind farms for £87mln, including the prepayment of existing project finance debt facilities.
Church Hill is located 16 miles north-west of Omagh in County Tyrone and has a capacity of 18.4MW while Crighshane is located 20 miles north-west of Omagh and has a capacity of 32.2MW.
The acquisition was funded by £80 million from UKW’s revolving credit facility and the reinvestment of £7mln in group cash.
Tim Ingram, chairman of UKW, said the acquisitions meant the firm’s portfolio of wind farms now provided enough electricity to power over 750,000 homes.
The acquisitions follow news in October that Greencoat would spend £126mln to acquire the 13-turbine Tom nan Clach wind farm in Nairnshire, Scotland.
In mid-afternoon trading Friday, Greencoat shares were steady around 124.6p.