Glasgow-based Scottish Equity Partners has bought Merthyr Renewable Energy – which operates a 500kW wind-power turbine generator in Merthyr Tydfil – from the original project developers.
The acquisition was completed on an all-equity basis without project finance debt, for an undisclosed price.
The tier one turbine, manufactured by Netherlands based Emergya Wind Technologies has been operating since 2013 and benefits from a 20-year index linked, fixed price, feed in tariff (of which 16 years remain) covering 100% of its revenue.
Operations and maintenance of the turbine will continue to be undertaken by EWT under a comprehensive service contract.
This deal is the third wind investment to be completed by SEP over the last six months and follows equity funding for the construction of the €8.7 million, 4.6MW Curraghderrig wind farm in the Republic of Ireland and the acquisition by ECF of the 9.2MW Port of Tilbury windfarm from SSE.
24 Jan 2018