Greencoat UK Wind (UKW) and GLIL Infrastructure have agreed to buy an additional stake of 14.9% in Clyde Windfarm (Scotland) from SSE for a sum of £202m.
Clyde Windfarm is the owner of the original 349.6MW Clyde windfarm and the 172.8MW Clyde Extension Windfarm, both located in South Lanarkshire, Scotland.
With the additional stake, UKW and GLIL increase their ownership in the two wind farms to 49.9% with the remaining 50.1% to be owned by SSE. As a result, the duo will increase their ownership by a further 77.8MW in the wind farms.
UKW’s share of ownership will move up to 28.2% for a consideration of £114.2m while GLIL Infrastructure, which will also be exercising its option, will increase its stake to 21.7%.
In August 2017, UKW and GLIL purchased a further 5% stake in Clyde for £67.8m to increase their ownership to 35%. As part of the transaction, they were given an option to buy an additional stake of 14.9% between 1 April 2018 and 30 June 2018.
The acquisition of the additional stake by UKW and GLIL is anticipated to be closed by the month end.
It was in March 2016 that SSE had agreed to divest 49.9% stake in the original Clyde wind farm for £355m to UKW and GLIL. It was then agreed that the stake of UKW and GLIL would be reduced to 30% after completion of the Clyde Extension Windfarm.
According to SSE, the original Clyde windfarm features 152 turbines manufactured by Siemens, each having a capacity of 2.3MW.
On the other hand, the Clyde Extension comprises 54 turbines, also manufactured by Siemens with each having a capacity of 3.2MW. This wind farm was commissioned in September 2017.
In a separate deal, UKW said that it has purchased the 47.5MW Brockaghboy wind farm near Londonderry in Northern Ireland from ERG Power Generation for about £163m. The wind farm was fully commissioned in February.