British renewables investor Greencoat UK Wind is set to add 90MW of capacity to its portfolio following a deal to buy two wind farms from JP Morgan Asset Management for a total of £105m.
Greencoat announced yesterday it has struck deals to buy the 60MW North Hoyle offshore wind farm, located off the coast near Liverpool, and the 30MW onshore wind farm Slieve Divena, which is located in Northern Ireland.
Both developments receive subsidy under the Renewables Obligation Certificate scheme.
The addition of the two projects will take Greencoat UK Wind’s net generating capacity to 547MW, with the deal expected to close later this month.
In addition, the firm’s solar investment arm now manages around 180MW of solar capacity, as of March 31 2017.
Last month Greencoat Renewables launched its first share issue, releasing €270m to fund the expansion of its wind portfolio.