Greencoat UK Wind has announced £100m (€116.2m) worth of Scottish wind farm investments in deals with Federated Hermes and Banks Renewables.
The London-listed renewable infrastructure fund is investing £48.1m to buy the remaining 50% stake in the 72MW Braes of Doune wind farm from Hermes Infrastructure Fund I (HIF I). HIF I acquired its 50% interest in Braes of Doune from Centrica in 2013.
Greencoat said it now owns 100% of the wind farm, having acquired its original 50% stake at its initial public offering in March 2013.
Greencoat has also agreed a £51.4m deal with Banks Renewables to acquire a 49.9% stake in the 67.2MW Kype Muir Extension wind farm project. Greencoat said it will pay for the stake once the wind farm is fully operational in the fourth quarter of 2022.
Greencoat said it will also provide construction finance of up to £47m for the project.
Stephen Lilley of Greencoat Capital, said: “We are delighted to acquire the remaining 50% of Braes of Doune, a high quality, ROC-accredited asset, in which we have been invested since March 2013.
”We are also excited to be partnering with Banks Renewables on Kype Muir Extension and look forward to acquiring 49.9% of the project in the fourth quarter of 2022.”
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