Trig said the eight turbine windfarm must hit certain performance targets over the 18 months following purchase for the full £32 million to be paid to the seller, a private equity investment fund separately managed by InfraRed Capital Partners Ltd, Trig’s investment manager.
This reflects the windfarm’s lack of operational history having only been connected to the grid in June this year.
The windfarm, located near Kirkcaldy in Fife, is expected to have a 25 year operational life.
Operations and maintenance services will be provided by Vestas, with GDF Suez purchasing the power.
The acquisition of Earlseat represents the 28th project for Trig which currently has 11 solar PV parks and 17 onshore windfarms across the UK, France and the Republic of Ireland, totalling 414 MW of installed capacity.
Trig’s chairman, Helen Mahy said: “The addition to Trig’s portfolio of the Earlseat windfarm represents the tenth project acquisition by Trig since the acquisition of the initial portfolio of 18 projects at IPO.”
“This recently commissioned project in central Scotland provides investors with the benefits of further scale and diversification in line with the company’s investment policy.”