Greencoat UK Wind agrees to acquire 45 MW Douglas West wind project from Blue Energy
Greencoat UK Wind, a renewable energy fund managed by Greencoat Capital, has agreed to acquire the 45 MW Douglas West wind project from Blue Energy. The wind farm is located in Scotland, UK.
Greencoat UK Wind estimates the acquisition and construction costs for the project is about GBP45 million (US$57.04 million) which will be funded through reinvestment of the fund's excess cash flow.
The subsidy-free wind project will be built about 7 miles south west of Lanark. Greencoat expects to continue to invest mostly in assets accredited under the Renewables Obligation (RO) regime.
The deal is seen closing by the first quarter of 2019.
Country updates
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400 MW offshore wind farm in the UK refinanced for US$1.6 billion
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