Foresight completes acquisition of 37.5 MW of solar projects from Glennmont Partners
Foresight Group has completed the acquisition of two wind farms with an aggregate generating capacity of 37.5 MW from Glennmont Partners I UK Limited.
The wind farms, Gruig and Todmorden have been operating since 2009 and 2014 respectively and benefit from long term PPAs with investment-grade counterparties and tier-one turbine technology and maintenance agreements.
Gruig is a 10 turbine, 25MW, NIROC-accredited wind farm located near Ballymena in Northern Ireland and Todmorden is a 5 turbine, 12.5MW, ROC-accredited wind farm located in Calderdale, West Yorkshire.
The assets have been acquired by funds managed by Foresight for an undisclosed amount.
The two wind farms have been estimated to generate power equivalent to saving 45,000 tonnes of CO2 emissions per annum compared to power produced from natural gas.
Foresight was advised by Pinsent Masons (legal adviser), Wood Group (technical adviser) and Deloitte (tax and financial adviser).
The vendors were advised by KPMG (financial adviser), Everoze (technical adviser) and Norton Rose Fulbright / A&L Goodbody (legal advisers).
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