# Greencoat UK Wind PLC Acquire Windy Rig and Twentyshilling for £104m

- Link: https://www.directorstalkinterviews.com/greencoat-uk-wind-plc-acquire-windy-rig-and-twentyshilling-for-104m/412801455
- Published: 2019-12-20T07:24:01+00:00
- Author: Giles Arbor

**Greencoat UK Wind PLC** (LON: UKW) has announced that it has agreed to acquire
the Windy Rig and Twentyshilling wind farms from Statkraft UK Limited for a combined
consideration of £104 million, to be paid on completion. Construction of the wind
farms is expected to commence shortly, with the acquisition targeted to complete
in Q2 2021 and Q3 2021 respectively, once each wind farm is fully operational.

Windy Rig (43.2MW) and Twentyshilling (37.8MW) are subsidy free projects located
in Dumfries & Galloway and were originally developed by Element Power (acquired 
by Statkraft in September 2018). Statkraft will manage the construction of both 
wind farms and will provide route-to-market and operational management services 
for the wind farms once operational.

**Tim Ingram, Chairman of Greencoat UK Wind, commented:**

“This transaction follows, and is very similar to, our recently announced Glen Kyllachy
acquisition from Innogy, with acquisition completion occurring upon the successful
commissioning of the wind farms. We are delighted to partner with Statkraft on this
transaction, demonstrating that UKW is the continuing partner of choice for utilities,
who are well placed to retain and manage the risks associated with wind farm construction.”

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