A stock market-listed renewable energy specialist has acquired a windfarm
in Dumfries and Galloway in an £82 million move that reflects its
confidence in the commercial prospects for such assets.
The Renewable Infrastructure Investment Group (TRIG) has bought the
Solwaybank onshore windfarm near Langholm from Renewable Energy Systems for
£39 million. It is set to invest £43m completing the development of the
The 15 turbine Solwaybank facility is in the early stages of construction
and is due to become operational in the first quarter of 2020. The facility
is expected to power the equivalent of around 24,500 homes annually.
TRIG noted Solwaybank will be one of the few onshore wind farms in the UK
to benefit from what it described as the attractive Contract for Difference
(CfD) tariff. This fixes the power price during the first 15 years of
Solwaybank will be the group’s first CfD wind farm in the UK.
Richard Crawford of Infrared Capital Partners, which manages TRIG, said
Solwaybank was an important addition to the group’s portfolio. This now
includes 14 wind farms in Scotland.
Renewable Energy Systems said the sale would allow the firm to continue
searching for new development opportunities in the UK and bring forward
sites to boost its growing portfolio of consented projects.