DLA Piper advises Greencoat UK Wind on the GBP121m acquisition of Statkraft wind project in Scotland

DLA Piper has advised Greencoat UK Wind PLC (Greencoat) on the acquisition of Andershaw Wind Farm in Scotland from Statkraft for a purchase price of GBP121m. Greencoat will fund the acquisition through its revolving credit facility and cash.

Andershaw is a 35 megawatt wind farm based in South Lanarkshire, Scotland, and comprises 11 Vestas V117 3.3 megawatt turbines. The wind farm was commissioned in 2017 with a load factor of 35%. Greencoat, through Andershaw Wind Power Limited, has entered into a power purchase agreement with Statkraft until 2037, in which time they will also provide management services to Andershaw.

The DLA Piper team advising Greencoat was led by Global Co-Chair, Energy and Natural Resources Sector, Natasha Luther-Jones alongside Corporate partner Stephen Atkinson.

Commenting, Natasha Luther-Jones said: “We are very proud to have advised our long-standing client Greencoat UK Wind on yet another successful deal, as they continue to play their role in helping to decarbonise the UK economy. This transaction grows their portfolio to 40 wind farms with a generating capacity of 1,289 megawatts and we look forward to working with them in future growth projects.”