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Greencoat snaps up Langhope Rig

16MW wind farm in the Scottish Borders acquired for £39.8m

Greencoat snaps up Langhope Rig image

Greencoat UK Wind has acquired the 16MW Langhope Rig wind farm in Scotland from GE Energy Financial Services.

The listed fund has paid £39.8m for the facility near Hawick in the Scottish Borders, it said.

The wind farm, originally developed and built by SSE, was commissioned in December 2015. It has a forecast net load factor of 33%.

Langhope Rig takes Greencoat’s generating capacity to 436MW.

The deal was funded by the fund’s revolving credit facility as well as £2.8m of cash resources.

Its total borrowings amount to £137m.

Image: SSE

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