Greencoat UK Wind to buy Glen Kyllachy wind farm from Innogy
Greencoat UK Wind has agreed to buy the Glen Kyllachy wind farm from Innogy for a headline consideration of £57.5m.
Construction of the wind farm is ready to begin, with the transaction targeted to complete in October 2021, once it is fully operational.
Glen Kyllachy is a 48.5MW subsidy-free project located in the Highlands, 11 miles south of Inverness and close to Greencoat'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.
Chairman Tim Ingram said: "Together with the recent acquisition of Douglas West, this brings our commitments to subsidy-free wind farms to just over £100 million, complementing our recent £145m investment in Tom nan Clach, with its fixed price CFD revenues, and our £2.3bn renewables obligation certificates portfolio.
"We are delighted to partner again with Innogy, who have the expertise and resources to deliver a high quality operational wind farm."