Greencoat Capital’s listed renewable infrastructure fund is buying an 18.8MW wind farm in Northern Ireland from SSE Renewables.
Greencoat UK Wind said it has agreed to pay £51m (€61m) to acquire the Slieve Divena II wind farm located 10 miles south east of Omagh in County Tyrone.
Greencoat UK said the acquisition was funded by the company’s acquisition facility plus reinvestment of portfolio cash of £24m.
Slieve Divena II was constructed by SSE Renewables and has been operational since June 2017.
Airtricity, SSE’s retail brand in Northern Ireland, will be the offtaker under a long-term power purchase agreement.
Tim Ingram, chairman of Greencoat UK Wind, said: “We are delighted to acquire our eighth wind farm from SSE, which is testament to the longstanding relationship we have developed.
“Slieve Divena II is a high quality, renewables obligation certification-accredited asset sitting alongside our Slieve Divena wind farm and is a natural addition to our portfolio of operating UK wind farms, which now has a net generating capacity of almost 1GW.”