£104m windfarm deal reflects investor interest in Scottish assets

RENEWABLE energy investor Greencoat UK Wind (UKW) is buying two windfarms in Scotland in a £104 million deal that underlines its belief in the commercial potential of developments in the country.

The company has agreed to acquire the Windy Rig and Twentyshilling windfarms in Dumfries and Galloway from Norwegian energy firm Statkraft.

While the windfarms are not yet operational, UKW is confident that they will be viable without needing subsidy support.

The company said Statkraft will manage the construction of both wind farms and provide route-to-market and operational management services for them once operational.

UKW’s chairman Tim Ingram noted it recently completed a similar deal involving the purchase of the Glen Kyllachy windfarm near Inverness from Innogy.

“UKW is the continuing partner of choice for utilities, who are well placed to retain and manage the risks associated with wind farm construction,” said Mr Ingram.

The company has interests in 10 windfarms in Scotland. It is managed by sectors specialists from London-based Greencoat Capital.

The UK Government led by David Cameron put a block on state support for new onshore windfarms in 2015.

Source: The Herald