Greencoat UK Wind PLC Acquisition of Langhope Rig Wind Farm (5395A)
27 March 2017 - 5:01PM
UK Regulatory
TIDMUKW
RNS Number : 5395A
Greencoat UK Wind PLC
27 March 2017
Acquisition of Langhope Rig Wind Farm
Increase in Greencoat UK Wind's net generating capacity to
436MW
The Board of Greencoat UK Wind PLC ("UKW"), is pleased to
announce that it 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%).
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9400
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Tulchan 020 7353 4200
Stephen Malthouse
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable
infrastructure fund, invested in 20 operating UK wind farms with
net generating capacity of 436MW (including the acquisition of
Langhope Rig). The Company's aim is to provide investors with an
annual dividend that increases in line with RPI inflation (6.49p
for 2017) while preserving the capital value of its investment
portfolio in the long term on a real basis through reinvestment of
excess cash flow and the prudent use of portfolio gearing.
UKW is managed by an experienced team at Greencoat Capital LLP,
a leading European renewable investment manager with GBP1.8 billion
of assets under management across a number of funds in wind and
solar infrastructure and private equity, and is overseen by a
strong and experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment
Trust.
For more information about UKW, please visit
http://www.greencoat-ukwind.com.
For more information about Greencoat Capital LLP, please visit
http://www.greencoat-capital.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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