A Â£ 250million deal has been announced for a large UK wind farm investor to acquire a 25% stake in an offshore site in Liverpool Bay.
Greencoat UK Wind is leading the investment in the Burbo Bank Extension offshore wind farm alongside a number of pension funds. The stake is acquired from the Danish investor AIP
The site is a 258 MW offshore wind farm located off the coast of Liverpool. It has 32 turbines installed in 2017, which joined the 25 turbines installed more than a decade earlier.
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The acquisition is expected to be finalized on November 30, 2021.
President of Greencoat UK Wind Shonaid Jemmett-Page said: âWe are delighted to announce our investment in Burbo Bank Extension, a CFD accredited high load factor offshore wind farm.
âThis transaction, once completed, will add another high quality asset to our portfolio which will amount to 41 investments in wind farms, with a generation capacity of over 1.3 GW.
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âThis will be our second CFD investment, complementing the investments we make in merchant assets, and will fit alongside our 38 ROC investments as part of a balanced portfolio.
âAnticipating our commitments over the next 18 months, the capital increase launched today will allow the Company to repay its debt and continue to capitalize on the strong pipeline of opportunities in the UK wind farm market, at the both onshore and offshore.
“Given the size and scale the company has grown over the past few years, UKW is well positioned to make value-creating acquisitions and further improve returns for our shareholders.”