Greencoat UK Wind completes commissioning and acquisition of Scottish wind farms

Greencoat stated the addition of Windy Rig, a 43.2-megawatt subsidy-free project located near Castle Douglas in Dumfries and Galloway, and Glen Kyllachy, a 48.5-megawatt subsidy-free project located in the Highlands, increased its net generating capacity to 1,422 megawatts and the number of subsidy-free assets in its portfolio to three, from a total of 43 operating wind farms.

The FTSE 250-listed firm noted that both acquisitions were funded through the reinvestment of excess cash flow and proceeds from its equity raise in November 2021.

Additionally, Greencoat revealed it had entered into an agreement with AXA to provide an eight-year £200.0m debt facility, which will be used to repay its revolving credit facility, enabling it to continue to capitalise on "the strong pipeline of opportunities in the UK wind farm market".