Greencoat UK Wind PLC (LSE:UKW) announced it completed the acquisitions of Windy Rig and Glen Kyllachy wind farms, which are both now up and running.
The two extra farms raises Greencoat’s net generating capacity to 1,422 megawatts (MW), while the amount of subsidy-free assets in its portfolio increases to three out of 43 operating farms.
The renewable infrastructure fund also said it arranged a new eight-year £200mln debt facility from AXA, which it will use to repay its revolving credit facility and “continue to capitalise on the strong pipeline of opportunities in the UK wind farm market, both onshore and offshore”.
The Windy Rig and Glen Kyllachy acquisitions were made public in October and December 2019 respectively and were funded via a November 2021 equity raise and by reinvesting in excess cash.