Wales' first offshore wind farm sells in multi-million pound deal

Paterniano Del Favero
Agosto 15, 2017

Greencoat announced yesterday it has struck deals to buy the 60MW North Hoyle offshore wind farm, located off the coast near Liverpool, and the 30MW onshore wind farm Slieve Divena, which is located in Northern Ireland.

Once completed the purchase, which will be funded by UKW's revolving credit facility, will bring Greencoat's total borrowings to £318 million.

It was originally developed by Innogy and formed part of the Zephyr portfolio from 2005, Greencoat said.

The Round 1 projects were initially meant to act as testbeds; building the UK's understanding of offshore wind power, whilst also providing well over 1,000 MW of green generating capacity for the UK.

The 12-turbine Slieve Divena Wind Farm in Tyrone, which was commissioned in 2009 was originally developed by SSE and sold on to the Infinis group in 2011.

North Hoyle was Wales' first wind farm and the first of eighteen to be erected as the part of the UK's Round 1 offshore wind farms.

A listed renewable infrastructure fund has stuck deals to acquire two wind farms for a total outlay of £105m.

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