Greencoat UK buys £50m Scots wind farm

Dalquhandy Wind Farm

Investment trust Greencoat UK Wind plc (UKW) said it has agreed to acquire Dalquhandy wind farm near Coalburn in South Lanarkshire from Germany-based renewable energy company BayWa for £50 million.

“Dalquhandy is a 42MW wind farm located near Coalburn in South Lanarkshire, is adjacent to Douglas West wind farm, and comprises 10 Vestas V136 4.2MW turbines,” said Greencoat UK Wind.

“The wind farm benefits from a 10 year fixed price PPA with BT for 80% of its output.

“The acquisition is expected to complete in May 2023 and will be funded from cash, which will be reinvested to grow UKW’s generating capacity to 1,652MW.

“Dalquhandy is the sixth wind farm that UKW has bought from BayWa and follows on from Cotton Farm and Earl’s Hall Farm (2013), Kildrummy (2014), Stroupster (2015) and Bishopthorpe (2017).”

Greencoat UK Wind is a listed renewable infrastructure fund invested in 46 operating UK wind farms with net generating capacity of 1,652MW, following the completion of the Dalquhandy acquisition. 

UKW is managed by Schroders Greencoat LLP, a European renewable investment manager with over £9 billion of assets under management.

UKW chair Shonaid Jemmett-Page said: “Greencoat UK Wind continues to generate significant cash flow in excess of its dividend and we are delighted to announce the acquisition of Dalquhandy wind farm.

“This NAV accretive transaction grows our portfolio to 46 wind farms with a generating capacity of 1,652MW. 

“Our pipeline of potential acquisitions remains healthy and we look forward to making further attractive investments in due course as we continue to play our role in decarbonising the UK economy.”