Foresight announces acquisition of 52 wind turbines in Northern Ireland
Foresight Group has announced that it has acquired 100% of the equity of Simple Power Limited (SPL), comprising a portfolio of 52 onshore sub-250 kW single wind turbines located across Northern Ireland, for an undisclosed sum.
SPL has the largest distributed wind portfolio in Northern Ireland, with a total output in excess of 12 MW across all the turbine sites, which benefit from some of the highest wind speeds in Europe.
The 52 wind turbines are fully operational and accredited by UK energy regulator OFGEM. The portfolio qualifies for participation in the recently launched Integrated Single Electricity Market Project (I-SEM), which seeks to create a new wholesale market for electricity on the island of Ireland, led by the grid operators of the Republic of Ireland and Northern Ireland.
Each turbine benefits from a standardized lease, grid connection, and power purchase agreement (PPA), with long-term fixed price operation and maintenance (O&M) agreements in place with a number of experienced third-party contractors.
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