Greencoat UK Wind buys £70.6m stake in two onshore windfarms

Greencoat UK Wind has bought a minority stake in two onshore windfarms worth £70.6 million from RWE Innogy.

The infrastructure fund has agreed a deal for a 49 per cent stake in each of the Lindhurst and Middlemoor onshore windfarms.

Following these acquisitions, Greencoat UK Wind has investments in ten windfarms in the UK and a net generating capacity of 184WM.

Hans Bünting, chief executive of RWE Innogy said: “I am delighted with the progress of the Greencoat UK Wind Fund and the addition of two more RWE projects.

“This continues to demonstrate the quality and attractiveness of our projects.

“Together with Greencoat UK Wind we are continuing to progress one of our key strategic objectives of opening up our projects to investors and raising additional capital for the progression of renewable energy in Europe via attractive investment models.”

Tim Ingram, chairman of Greencoat UK Wind, added “We are delighted to acquire further high quality, utility constructed and operated wind farms and announce the continued expansion of our investment portfolio.

“Since listing we have invested £134.2 million, including reinvestment, in adding 57.5MW of net capacity.”