StockMarketWire.com - Greencoat UK Wind said it had agreed to acquire a 49% stake in the Humber Gateway offshore wind farm from Germany's RWE, in partnership with pension funds managed by Greencoat Capital, for £648 million.

Greencoat UK Wind would acquire 38% of the wind farm for £500 million, while the pension funds would 11% for £148 million.

RWE would continue to hold the remaining 51%.

The 219 megawatt Humber Gateway wind farm, located 5 miles off the Yorkshire coast, was commissioned in 2015 and comprises 73 Vestas 3MW turbines.

'This transaction adds another attractive asset to our portfolio which will stand at 38 wind farm investments, with a generating capacity of 1.2 gigawatts,' chairman Shonaid Jemmett-Page said.

'We are also very pleased to be able to play our part in the wider development of the wind industry, heralded by recent government announcements, and enabling the continued build out of further offshore generating capacity in the UK.'




Story provided by StockMarketWire.com