DLA Piper has advised long-standing client Greencoat UK Wind on the acquisition of the South Kyle wind farm in Scotland from developer Vattenfall, for GBP320 million once the farm begins operating in Q1 2023.
South Kyle is located 5km to the east of Dalmellington on the boundary of Dumfries & Galloway and East Ayrshire in Scotland. It will consist of 50 turbines with aggregate generating capacity of 240MW and a grid connection of 235MW. The wind farm is fully consented.
South Kyle is a subsidy-free wind farm and it has entered into a route-to-market PPA with Vattenfall Energy Trading GmbH for the 15 years following commissioning. Vattenfall will construct the wind farm and will manage the asset on behalf of Greencoat UK for a minimum of 10 years once operational.
In addition to supporting the local economy through new jobs created, once operational, the wind farm will provide GBP38 million of direct investment into local schemes through its community benefit programme over the lifetime of the wind farm.
DLA Piper’s Global Co-Chair of Energy and Natural Resources, Natasha Luther-Jones, said: “We are very proud to have advised our long-standing client Greencoat UK Wind on yet another successful deal, which represents a significant milestone in the UK’s subsidy free journey.”
The DLA Piper team was led by Global Co-Chair of Energy and Natural Resources Natasha Luther-Jones and Corporate partner Stephen Atkinson. They were assisted by senior associates Jennifer Keogh and Ruth Conolly, and associates Sophie Linnell, Emma Whitfield, Alex Newton (all Finance & Projects) and Mark Cliffe (Corporate). Legal directors Edwin Truesdale and Michael Greig advised on the real estate aspects of the transaction, while senior associate Richard Johnson provided tax advice.