OnPath Energy has completed the sale of its shares in the recently constructed Kype Muir Wind Farm Extension in Scotland to funds managed by Schroders Greencoat for an unspecified sum.
The 15-turbine wind farm near Strathaven in South Lanarkshire was the first project in the UK to build turbines with a 200-metre tip height, marking a significant milestone in turbine technology and renewable energy development.
Greencoat UK Wind has been an investor in Kype Muir Wind Farm Extension since 2021, with an initial loan which converted to a 49.9% shareholding in December 2023. This enabled OnPath Energy to construct the project at a time when UK onshore renewables deployment was extremely challenging.
Following the completion of construction, funds managed by Schroders Greencoat have now acquired the remaining 50.1% of the project shares.
Kype Extension began exporting clean, green electricity to the national grid in December 2022 and can generate up to 67.2MW of renewable electricity, with annual output expected to be enough to meet the average annual electricity needs of approximately 53,700 households.
It was built as an extension of OnPath Energy’s neighbouring 26-turbine Kype Muir Wind Farm and features four 156m, three 176m and eight 200m-tall wind turbines.
Gordon Thomson, projects director at OnPath Energy, formerly Banks Renewables, said: “Kype Muir Wind Farm Extension is a groundbreaking UK project being the first to construct 200m turbines and a product of OnPath Energy’s progressive development philosophy.
“The project will provide tens of thousands of homes with renewable energy and we’re proud to have taken this important project from first principles through to its completion.
“We have worked in close partnership with Schroders Greencoat on the development of this wind farm for several years. The long term social, economic and environmental commitments made to local communities will be honoured in full by its new owners.”
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