UK energy group acquires Tyrone wind farm
The acquisition of the Slieve Divena wind farm was as part of a £105 million deal
Greencoat UK Wind has acquired the Slieve Divena Wind Farm in County Tyrone. Photograph: iStock
Greencoat UK Wind, the London listed renewable infrastructure fund which invests in wind farms, has acquired the Slieve Divena Wind Farm in County Tyrone as part of a £105 million deal.
Greencoat UK Wind (UKW) has entered into an agreement to purchase both the 30MW wind farm in Garvaghy in Tyrone and the North Hoyle wind farm located 5 miles offshore in Liverpool Bay from institutional investors as part of its multi-million pound portfolio expansion.
The 12-turbine Slieve Divena Wind Farm in Tyrone, which was commissioned in 2009 was originally developed by SSE and sold on to the Infinis group in 2011.
It is estimated to produce enough electricity to power over 16,000 homes in the North.
UKW expects its latest acquisition projects to complete in August 2017 and will boost its net generating capacity to 547MW.
Once completed the purchase, which will be funded by UKW’s revolving credit facility, will bring Greencoat’s total borrowings to £318 million.