ALG Advises on Seventh Wind Farm Acquisition for Greencoat
March, 2020 - Ireland
Our Belfast office recently advised Greencoat UK Wind on its acquisition of the Slieve Divena II wind farm from SSE Renewables – the seventh wind farm we have purchased for Greencoat in the last six years.
Valued at £51m, the deal marks the highest value wind farm acquisition in Northern Ireland so far this year and adds to Greencoat’s expanding portfolio of wind farms located across the province, including six in Co Tyrone, two in Co Fermanagh and one in Co Londonderry.
Our client Tim Ingram, chairman of Greencoat UK Wind explained: “Slieve Divena II is a high quality, ROC-accredited asset sitting alongside our Slieve Divena wind farm and is a natural addition to our portfolio of operating UK wind farms, which now has a net generating capacity of almost 1GW.”
Mark Stockdale, ALG energy partner in Belfast, said: “This acquisition of the eight turbine Slieve Divena II is a great addition to the 12 turbines at neighbouring Slieve Divena I, which we also acquired for Greencoat from SSE in 2017."
“This deal is the latest in what has been a particularly active 12 months for the energy industry in Northern Ireland. At ALG, we would expect to see further activity and consolidation as projects which were commissioned before the ROC subsidy closed in 2018 are now brought to market.”
