Statkraft has sold Andershaw Wind Farm in Scotland to Greencoat UK Wind for £120m, including cash and working capital.
Europe’s largest generator of renewable energy, which together with Catamount Energy began joint development of the project in 2006 - and operation in 2017 - will continue 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 agreement.
Andershaw Wind Farm, south of Glasgow, has 36 MW installed capacity, producing enough energy to meet the annual needs of about 26,000 homes.
Eivind Torblaa, vice president for wind and solar UK - who was the head of UK development for Statkraft when this project began - said: “Andershaw Wind Farm is a special project for Statkraft as we began its development in the same year that we opened our UK office 15 years ago - it helped to launch our presence in the UK and was amongst the first handful of projects that we developed and realised here.
“The UK market is very important to Statkraft realising its global company goal of eight gigawatts of developed wind and solar by 2025, so 100% of the proceeds from this sale will be reinvested into the development of new renewable energy projects.
“We’ve built mutual trust and respect in the local South Lanarkshire community, so we’re thrilled to be continuing a management role here.”
Statkraft group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. It has around 4,600 employees in 18 countries.
In 2019, Greencoat UK Wind bought two wind farms in Dumfries & Galloway from Statkraft in a deal worth £104m.
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