RPMI Railpen completes acquisition of 90% stakes in 46 MW Carraig Gheal Wind Farm from GreenPower International

RPMI Railpen (Railpen) has acquired an operational wind farm on the west coast of Scotland in its second direct investment in the UK renewable energy sector.

Railpen purchased 90% of Carraig Gheal Wind Farm in Argyll and Bute from GreenPower International Ltd, an independent UK renewable energy developer. Both parties agreed not to disclose the terms of the transaction.

The wind farm, consisting of twenty 2.3 megawatts (MW) turbines, has been operational since 2013 and benefits from support under the Renewables Obligation scheme. The farm has a total capacity of 46MW – enough to power around 32,000 households with clean, renewable energy.

Through the transaction, Railpen was advised by Pinsent Masons LLP, Ernst & Young LLP, Everoze, and Willis Towers Watson.

GreenPower was advised by Gneiss Energy, Wood, CMS, and RSM.

GreenPower will retain a 10% shareholding in Carraig Gheal Wind Farm and will continue to provide ongoing operations and commercial management services to the project.