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(Alliance News) - Greencoat UK Wind PLC on Monday said that it has acquired a Scottish wind farm for GBP320 million.
Shares in the renewable infrastructure fund were up 0.7% at 139.00 pence each in London.
The company has entered into an agreement with Vattenfall Wind Power Ltd to acquire South Kyle wind farm located near Dalmellington on the boundary of Dumfries & Galloway and East Ayrshire in Scotland.
South Kyle is a subsidy free wind farm and it has entered into a route-to-market power purchase agreement with Vattenfall Energy Trading GmbH for the 15 years following commissioning. Vattenfall will construct the wind farm and will manage the asset on behalf of Greencoat UK for a minimum of 10 years once operational.
By Tapan Panchal; tapanpanchal@alliancenews.com
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