Greencoat UK Wind’s £121 Million Windfarm Acquisition From Statkraft UK Limited

Harper Macleod assisted Statkraft UK Limited on the deal.Statkraft UK Limited on its sale of the operational Andershaw wind farm in South Lanarkshire to Greencoat UK Wind with the provision of project-side advice, vendor due diligence and the provision of a certificate of title. 

The deal for the 11-turbine, 36MW wind farm near Douglas, whose £121 million price included cash and working capital, was completed inside four weeks. It sees Statkraft retain the day-to-day operations and maintenance of the site, which produces enough energy for 26,000 homes annually, until 2037.

The company has also negotiated an extension of its existing long-term market access power purchase agreement.

The Harper Macleod’s team was led by David Bone (Picture) with assistance from Peter Ferguson (Planning), Michael Conroy (Construction), Omar Ali (Grid), James MacGregor (Corporate) and Josh Hale (Property).
Involved fees earner: Omar Ali – Harper Macleod LLP; David Bone – Harper Macleod LLP; Michael Conroy – Harper Macleod LLP; Peter Ferguson – Harper Macleod LLP; Joshua Hale – Harper Macleod LLP; James MacGregor – Harper Macleod LLP; Law Firms: Harper Macleod LLP; Clients: Statkraft UK Ltd;

Author: Giulia Di Palma