Investment decision to construct and sell Windy Rig Wind Farm project

December 23, 2019

Europe’s largest producer of renewable energy, Statkraft has announced its decision to construct the 43 MW Windy Rig wind farm in Scotland, and subsequently transfer ownership of the project post-construction to Greencoat UK Wind PLC.

In addition, Statkraft has further agreed to transfer ownership of the 38 MW Twentyshilling hill wind farm post-construction to Greencoat UK Wind, subject to a final investment decision on the project in early 2020.

Windy Rig and Twentyshilling wind farms are subsidy free projects located in Dumfries & Galloway and were originally developed by Element Power (acquired by Statkraft in September 2018).

Statkraft has agreed to transfer ownership of the projects to Greencoat UK Wind post-construction, with Statkraft managing the construction and providing operational management services for the wind farms once the projects are exporting to the grid. Both projects are due to reach operations in 2021.

Statkraft UK Managing Director, David Flood said: “Windy Rig is our first subsidy-free wind project in the UK, and this investment decision is in line with our ambitions to develop our pipeline and deploy 600 MW of renewable projects in the UK by 2025”.

Sean Maguire, Vice President Commercial at Statkraft, commented: “We are delighted these projects have reached the next phase, and will continue to work closely with Greencoat UK Wind as the projects progress into construction and operations.”

Alison Hood, Communications Manager at Statkraft said: “This transaction allows our team to ensure continuity and a local presence as the projects are built and go into operation, and we look forward to discussing the next stage of these projects with the community.”

The transaction marks a significant milestone for the Norwegian utility, who have stated plans to bring forward 600 MW of renewable energy projects in the UK by 2025 with at least a further 600 MW in development.  The company acquired UK onshore wind development company Airvolution Clean Energy in August 2019 to boost its development pipeline.

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