£47m deal blows in for wind farm
A £47m deal has been agreed for a wind farm just south of Grimsby with FTSE250 firm Greencoat.
The Bishopthorpe Wind Farm has been bought by Greencoat UK Wind from BayWa r.e, bringing the company’s generating capacity to 452MW.
The acquisition, which completed on 30 June 2017, was funded by UKW’s revolving credit facility of £38m plus cash resources of £9m.
The wind farm is located near Grimsby in Lincolnshire, and has a capacity of 16.4MW and a forecast net load factor of 35.5%.
It was originally developed by ASC Renewables and constructed by BayWa r.e. The wind farm was commissioned in May 2017, and will receive 0.9 ROCs per MWh.
Bishopthorpe is the fifth wind farm that UKW has bought from BayWa r.e. and follows on from Cotton Farm and Earl’s Hall Farm, Kildrummy and Stroupster. Including Bishopthorpe, BayWa r.e. now operates eight wind farms in UKW’s portfolio.
Despite opposition,permission for the site was given in 2015 for the eight turbine site, next to Anglian Water’s Newton Marsh treatment works.
