Andershaw Wind Farm

Andershaw Wind Farm

Andershaw II Wind Farm

Andershaw Wind Farm

– Greencoat UK Wind PLC has purchased 100% ownership of Statkraft in the Andershaw wind farm
– Statkraft to retain long-term operations and maintenance as well as asset management
– The two companies also signed an extension of the existing PPA agreement

(UK and Norway, September 28, 2021) Statkraft, Europe’s largest renewable energy producer, today announced the sale of Andershaw’s wind farm in Scotland to Greencoat UK Wind PLC for a price of purchase of £ 121 million (including cash and working capital).

Statkraft, which together with Catamount Energy * began joint development of the project in 2006 and operation in 2017, will maintain day-to-day operation and maintenance, as well as asset management responsibilities until 2037. The company has also negotiated an extension of its existing long-term market access power purchase contract. * The Andershaw wind farm (installed capacity 36 MW), south of Glasgow, produces enough energy to meet the annual needs of around 26,000 households.

Eivind Torblaa, Vice President, Asset Ownership, Wind and Solar UK, was head of UK development for Statkraft when this project began, said: “The Andershaw Wind Farm is a special project for Statkraft because we started its development the same year we opened our UK office fifteen years ago. This helped launch our presence in the UK and was among the first projects we developed and carried out here. “

“Since then, we have grown into a significant player in the UK renewable energy market, with a portfolio that includes wind, solar, grid stability and battery projects, as well as the leading provider of short and long term PPAs. in Great Britain. The UK market is very important for Statkraft to achieve its global target of eight gigawatts of wind and solar power developed by 2025. 100% of the proceeds from this sale will be reinvested in the development of new renewable energy projects. We have built mutual trust and respect in the local South Lanarkshire community, so we are delighted to continue to play a management role here.

The story continues

– ENDS –

* Acquired by Duke Energy in 2008

** A Power Purchase Agreement, or PPA, is a contract between a power producer and a buyer, and Statkraft is a leading provider of short and long term PPAs, with more than ten years experience in the UK market.

About Statkraft

Statkraft is a leading international hydropower company and the largest producer of renewable energy in Europe. The Group produces hydroelectricity, wind power, solar power, gas and provides district heating. Statkraft is a global company specializing in operations in the energy market. Statkraft has 4,600 employees in 18 countries.

About Greencoat UK Wind PLC

Greencoat UK Wind PLC is the first publicly traded renewable infrastructure fund, invested in 39 operating wind farms in the UK with a net generating capacity of 1,244 MW, following the completion of the acquisition of ‘Andershaw. The Company’s objective is to provide investors with an annual dividend which increases with RPI inflation (7.18p for 2021) while preserving the capital value of its investment portfolio over the long term over a period of time. real base through reinvestment of excess cash flow and careful use of gears.
UKW offers investors the opportunity to participate directly in the ownership of UK wind farms, thereby increasing the resources and capital dedicated to deploying renewable energy and reducing greenhouse gas emissions.
UKW is managed by an experienced team at Greencoat Capital LLP, a European leader in renewable investment management with more than £ 6 billion in assets under management. UKW is governed by a strong and experienced independent board of directors.
UKW is incorporated in England and Wales and is a UK investment trust.

UKW, please visit http://www.greencoat-ukwind.com
Greencoat Capital LLP, please visit http://www.greencoat-capital.com

For more information please contact:

Lydia Lobb, Communications Manager, Statkraft AS
Telephone: +47 45260835
Email: lydia.lobb@statkraft.com

Attachments