Greencoat UK Wind PLC Acquisition of Glen Kyllachy Wind Farm (5179P)
October 10 2019 - 9:02AM
UK Regulatory
TIDMUKW
RNS Number : 5179P
Greencoat UK Wind PLC
10 October 2019
10 October 2019
Acquisition of Glen Kyllachy Wind Farm
Greencoat UK Wind PLC ("UKW") is pleased to announce that it has
entered into an agreement to acquire the Glen Kyllachy wind farm
from Innogy Renewables UK Limited ("Innogy") for a headline
consideration of GBP57.5 million, to be paid on completion.
Construction of the wind farm is ready to commence, with the
transaction targeted to complete in October 2021, once the wind
farm is fully operational.
Glen Kyllachy is a 48.5MW subsidy free project located in the
Highlands, 11 miles south of Inverness and close to UKW's
Stronelairg, Dunmaglass, Corriegarth and Tom nan Clach investments.
Innogy will manage the construction of the wind farm, with first
export of electricity targeted in July 2021 and full operations in
October 2021.
Tim Ingram, Chairman of UKW, commented: "We are pleased to add
Glen Kyllachy to the UKW portfolio. Together with the recent
acquisition of Douglas West, this brings our commitments to subsidy
free wind farms to just over GBP100 million, complementing our
recent GBP145 million investment in Tom nan Clach, with its fixed
price CFD revenues, and our GBP2.3bn ROC portfolio. We are
delighted to partner again with Innogy, who have the expertise and
resources to deliver a high quality operational wind farm.
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9425
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Headland Consultancy 020 3805 4822
Stephen Malthouse
Rob Walker
Charlie Twigg
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable
infrastructure fund, invested in 35 operating UK wind farms with
net generating capacity of 979MW. The Company's aim is to provide
investors with an annual dividend that increases in line with RPI
inflation (6.94p for 2019) while preserving the capital value of
its investment portfolio in the long term on a real basis through
reinvestment of excess cash flow and the prudent use of
gearing.
UKW is managed by an experienced team at Greencoat Capital LLP,
a leading European renewable investment manager with over GBP4
billion of assets under management. UKW is governed by a strong and
experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment
Trust.
For more information about UKW, please visit
http://www.greencoat-ukwind.com
For more information about Greencoat Capital LLP, please visit
http://www.greencoat-capital.com
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END
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