(Sharecast News) - Greencoat UK Wind said on Monday that it has agreed to buy Dalquhandy wind farm from BayWa for around £50m.
Dalquhandy is a 42MW wind farm located near Coalburn in South Lanarkshire. It is adjacent to Douglas West wind farm, and comprises 10 Vestas V136 4.2MW turbines. The wind farm benefits from a 10-year fixed price power purchase agreement with BT for 80% of its output.
The acquisition is expected to complete in May 2023 and will be funded from cash, which will be reinvested to grow UKW's generating capacity to 1,652MW.
Chairman Shonaid Jemmett-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 NAV 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."
Greencoat UK Wind (UKW)