t
On 10 January 2022, Greencoat UK Wind PLC (UKW) announced the completion of the acquisitions of the 43.2MW Windy Rig and 48.5MW Glen Kyllachy wind farms, which increased UKW's net generating capacity to 1,422MW. UKW also entered into an agreement with AXA for an 8-year £200 million debt facility to repay its revolving credit facility.
| Date | 10 Jan 2022 |
| Time | 07:00:08 |
| Category | Acquisitions and alliances |
| ID | 8331X |
10 January 2022
Greencoat UK Wind PLC
Completion of Windy Rig and Glen Kyllachy Acquisitions and Long Term Debt Facility
Greencoat UK Wind PLC ("the Company" or "UKW") is pleased to announce that the commissioning of Windy Rig and Glen Kyllachy wind farms and their subsequent acquisitions have been completed.
Windy Rig is a 43.2MW subsidy free project located near Castle Douglas in Dumfries & Galloway and comprises 12 Vestas V112 3.6MW turbines.
Glen Kyllachy is a 48.5MW subsidy free project located in the Highlands, 11 miles south of Inverness and comprises 20 Nordex N90 2.5MW turbines.
The addition of Windy Rig and Glen Kyllachy increases UKW's net generating capacity to 1,422MW and the number of subsidy free assets in UKW's portfolio to three from a total of 43 operating wind farms.
The acquisitions were first announced in October 2019 and December 2019 respectively and both projects have been funded through reinvestment of excess cashflow and proceeds from the Equity Raise in November 2021.
Additionally, UKW has entered into an agreement with AXA to provide an 8-year £200 million debt facility which will be used to repay the revolving credit facility. This will enable UKW to continue to capitalise on the strong pipeline of opportunities in the UK wind farm market, both onshore and offshore.
The Company is also pleased to share footage of a turbine climb undertaken last year and referenced in the recent Capital Markets Event.
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9425
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Headland Consultancy 020 3805 4822
Stephen Malthouse
Rob Walker
Charlie Twigg
Notes to Editors:
Greencoat UK Wind PLC ("UKW"), the leading listed renewable infrastructure fund invested in operating UK wind farms, has invested in 43 operating UK wind farms with net generating capacity of 1,422MW. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (7.18p for 2021) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of gearing.
UKW is managed by an experienced team at Greencoat Capital LLP, a leading renewable investment manager with approximately £7 billion of assets under management. UKW is governed by a strong and experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment Trust.
For more information about UKW, please visit http://www.greencoat-ukwind.com.
For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com.