The Renewables Infrastructure Group (TRIG) said on Monday it acquired the under-construction wind farm at Solwaybank, Dumfries and Galloway, for up to £82 million.
The project was acquired from TRIG’s operations manager, RES (Renewable Energy Systems).
TRIG is a London-listed investment company advised by InfraRed Capital Partners as investment manager.
“Solwaybank is in the early stages of construction and expected to become operational in Q1 2020,” said TRIG.
“Once complete, Solwaybank will comprise 15 Senvion MM100 wind turbines, each with a rated capacity of 2.0MW, amounting to 30MW.
“Solwaybank will be one of few onshore wind farms in the UK to benefit from the attractive Contract for Difference tariff (CfD) which fixes the power price during the first 15 years of operations.
“Solwaybank has an allocated strike price of £82.50 per MWh in 2012 prices (equivalent to £91.14 in current prices).”
The total consideration for the project is expected to be £82 million, including construction costs.
Richard Crawford, Director, Infrastructure at InfraRed Capital Partners, said: “Solwaybank is an important addition for the TRIG portfolio, being its first CfD wind farm in the UK.
“Together with the two French wind farms acquired last week, Solwaybank enhances the company’s revenue visibility as part of a balanced portfolio.
“The windfarm is being constructed by RES who have an impressive track record in developing and building renewable energy assets.”