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Greencoat UK Wind buys Langhope Rig wind farm

Greencoat UK Wind has acquired Langhope Rig Wind Farm from GE (NYSE: GE) unit, GE Energy Financial Services for a total consideration of GBP39.8 million.

The acquisition, which completed on 24 March 2017, was funded by UKW’s revolving credit facility (GBP37 million) plus cash resources (GBP2.8 million).

Langhope Rig is located near Hawick in the Scottish Borders, and has a capacity of 16MW and a forecast net load factor of 33%.  Langhope Rig was originally developed and constructed by SSE, was commissioned in December 2015, and receives 0.9 ROCs per MWh.

Following completion, UKW’s total borrowings amount to GBP137 million, equivalent to 15% of Gross Asset Value (gearing limit 40%).

UKW : Greencoat UK Wind buys Langhope Rig wind farm

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