LONDON (Alliance News) - Renewable energy company Infinis Energy PLC on Tuesday said it has struck a deal to acquire an 18.5 megawatt consented onshore wind farm project in Northumberland.
Infinis, which was relegated from the FTSE 250 in the latest quarterly review, said it has acquired the project from Peel Group and said it neighbours the 8 megawatt Sisters Wind Farm project, which was developed by Infinis.
Both the new wind farm and the Sisters project are at an advanced stage of pre-construction, Infinis said, and it expects grid energisation to take place in June 2016.
Last week, UK Secretary of State for Climate Change Amber Rudd said the government, a year ahead of schedule, had scrapped the Renewables Obligation which is the primary of three subsidies for onshore wind farms, claiming the country has enough onshore wind in the pipeline.
The Renewables Obligation was introduced in 2002, and places an obligation on UK electricity suppliers to source an increasing proportion of the electricity they provide to businesses and households from renewable sources.
However, Rudd also said there would be a grace period until April 1, 2016, to "protect investor confidence", which would continue to give access to support under the Renewables Obligation to those projects which already have planning consent, a grid connection offer and acceptance, and evidence of land rights for the site on which their project will be built.
Infinis Energy released no financial details of its latest acquisition Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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