Greencoat bags North Hoyle haul
Investor also acquires 30MW Slieve Divena wind farm in Northern Ireland
Renewables investor Greencoat has agreed a deal to acquire the 60MW North Hoyle wind farm off the UK’s north west coast.
The company said the deal is expected to be completed later this month and will be funded by its revolving credit facility.
It will be Greencoat’s first majority acquisition in the offshore wind sector.
North Hoyle (pictured), which features 30 Vestas V80 turbines and is sited off North Wales, was built in 2003 and became operational in July 2004.
It was originally developed by Innogy and formed part of the Zephyr portfolio from 2005, Greencoat said.
The investor has also agreed to acquire the 30MW Slieve Divena onshore wind farm in Northern Ireland.
The Tyrone site was developed by SSE, commissioned in March 2011 and has been part of the Infinis portfolio since 2011, Greencoat said.
Greencoat said both acquisitions will be secured for a total of £105m.
Image: Wikimedia Commons