Statkraft agrees to divest 49% stake in UK onshore wind power portfolio

31 July 2014 (Last Updated July 31st, 2014 18:30)

Norwegian state-owned electricity firm Statkraft has signed an agreement to sell a 49% interest in its UK onshore wind power portfolio to Gingko Tree Investment.

wind farm

Norwegian state-owned electricity firm Statkraft has signed an agreement to sell a 49% interest in its UK onshore wind power portfolio to Gingko Tree Investment.

Under the agreement, Statkraft will sell its three operating wind farms, including Alltwalis in Wales and Baillie and Berry Burn in Scotland, with a total capacity of 142.2MW.

Upon completion of transaction, Statkraft will continue to manage and operate the wind farms, including the provision of operation and maintenance services, and provide market access for the power and renewable certificates generated.

Operational since 2009, the 23MW Alltwalis wind farm features ten turbines and is located north of Carmarthen in Wales while the 52.5MW Baillie wind farm, operational since 2013, is situated near Thurso, North Scotland.

Located near Inverness in the north of Scotland, the 66.7MW Berry Burn wind farm started operations in 2014.

"Statkraft will continue to manage and operate the wind farms, including the provision of operation and maintenance services."

The wind farms, Baillie and Berry Burn, feature 21 and 29 turbines respectively.

Statkraft executive vice-president Jon Brandsar said: "Statkraft is Europe's leader in renewable energy and a long term investor in the UK renewables sector.

"We have firm growth ambitions in both onshore and offshore wind power. This agreement enables further growth through project development while at the same time maintaining our industrial role."

The three projects will be placed under a new holding company Wind UK Invest, 51% owned by Statkraft, with the remaining 49% stake held by Gingko.


Image: The 52.5MW Baillie wind farm is situated near Thurso, North Scotland. Photo: courtesy of Statkraft.

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