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Greencoat to acquire 2 wind farms in Scotland from Statkraft in £104M deal

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Greencoat to acquire 2 wind farms in Scotland from Statkraft in £104M deal

Greencoat UK Wind PLC agreed to acquire the planned 43.2-MW Windy Rig and 37.8-MW Twentyshilling wind farms in Scotland from Statkraft UK Ltd. for a total of £104 million.

Statkraft will manage the construction of both the wind farms, which is expected to start soon, and will also provide route-to-market and operational management services once they are operational, according to a Dec. 20 news release.

The acquisition of Windy Rig is targeted to complete in the second quarter of 2021 and Twentyshilling in the third quarter of 2021, as each wind farm comes online.

The two projects were originally developed by Element Power Ltd., whose U.K. and Irish wind development businesses were acquired by Statkraft earlier this year.