Greencoat UK Wind on the rise as institutions clamour for renewables

Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in operating UK wind farms.

The fund is a constituent of the FTSE 250 and has a market capitalisation of approximately GBP2.5 billion.

(, ) told investors that it has now completed the commissioning of the Douglas West wind farm in Scotland.

Douglas West is located 7 miles southwest of Lanark. It comprises thirteen Vestas V136 3.6MW turbines for a total capacity of 45 megawatts.

The wind farm increases the company’s net generating capacity to 1,289MW and it is the first subsidy-free asset in the portfolio.

The commissioning is the latest milestone for the renewable energy group which earlier this week agreed to acquire the 35 megawatts (MW) Andershaw wind farm from Statkraft UK Ltd for GBP121mln.

Greencoat UK Wind PLC said it agreed to acquire the 35 megawatts (MW) Andershaw wind farm from Statkraft UK Ltd for GBP121mln, increasing its portfolio to 39 wind farms with a generating capacity of 1,244MW.

Andershaw, which is located near Douglas in South Lanarkshire, comprises 11 Vestas V117 3.3MW turbines. The wind farm has a load factor of 34.8% and benefits from 0.9 Renewables Obligation Certificates (ROCs) per MWh. It has entered into a power purchase agreement with Statkraft until 2037 who will also provide management services to the wind farm.

(, ) appointed former () regional chief executive Nick Winser as a non-executive director.

Winser, who will also become a member of the audit, management engagement and nominations committees, will join the board from 1 January 2022.

‘s () Stephen Lilley talks Proactive London through the acquisition of the Walney offshore wind farm. It’s located nine miles off the Cumbrian coast and has a capacity of 367Mw. Greencoat’s funding the purchase from its GBP400mln acquisition facility, which will push total borrowing up to GBP980mln or 35% of gross asset value. Lilley hints at further investments over the next 18 months as they continue to capitalise on a strong pipeline of acquisition opportunities in the UK wind farm market.