Greencoat to purchase two wind power farms for approximately $163.5MM

Greencoat U.K. Wind to acquire the Maerdy and Kildrummy wind farms in the U.K. for approximately $163.5 million

Greencoat U.K. Wind (UKW) announced in June it has entered into agreements to acquire two wind farms in the U.K. for approximately $163.5 million, excluding cash balances.

UKW will acquire the Maerdy Wind Farm from Velocita Energy Developments Ltd. and the Kildrummy Wind Farm from BayWa r.e. renewable energy GmbH. Maerdy is located in the Rhonda Valley of South Wales, and has a 24 megawatt capacity. It's the first plant UKW has purchased from Velocita. Kildrummy is located in Aberdeenshire, Scotland, and has a 18.4 MW capacity. It is the third wind farm UKW has purchased from BayWa r.e., the first two acquisitions occurred in 2013.

Both wind farms were built in 2013, and UKW will reassess their actual energy production over the next two years. The purchase prices of the farms will be adjusted depending on the actual energy output of each facility.

The deals are expected to close on June 30, and will bring UKW's net generating capacity from wind farms in the U.K. to 226.4 MW.

More information on wind-generated energy in the U.K. can be found at PenneEnergy's research area.

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