(Alliance News) - Greencoat UK Wind PLC said on Monday it will buy the Dalquhandy wind farm from BayWa.
The London-based renewable infrastructure fund said the purchase will cost approximately GBP50 million.
Dalquhandy is a 42 megawatts wind farm in South Lanarkshire in Scotland, and is made up of 10 Vestas V136 turbines of 4.2MW. It is the sixth wind farm Greencoat buys from BayWa.
Greencoat said the acquisition is expected to be completed in May this year and will be funded from cash, which will be reinvested to grow its generating capacity to 1,652 MW.
Chair Shonaid Jemmet-Page said: "Greencoat UK Wind continues to generate significant cash flow in excess of its dividend and we are delighted to announce the acquisition of Dalquhandy wind farm. This net asset value accretive transaction grows our portfolio to 46 wind farms with a generating capacity of 1,652MW. Our pipeline of potential acquisitions remains healthy and we look forward to making further attractive investments in due course as we continue to play our role in decarbonising the UK economy."
Shares were up 0.3% at 157.30 pence in London on Monday morning.
By Sabrina Penty; Alliance News reporter
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Greencoat UK Wind (UKW)