GREENCOAT UK Wind has announced plans to raise £135 million through a share placing to help it continue building its portfolio.

The fund, which has a 50% stake in the 72-megawatt Braes of Doune wind farm near Stirling, as well as owning the 6MW Carcant site in the Scottish Borders, intends to use the money to pay down “part or all” of its bank facility. It said that the facility had been drawn down to £130m because of the acquisitions the fund had made in recent months.

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