Statkraft has announced it is selling 100% of its ownership in the 36MW Andershaw Wind Farm to Greencoat UK Wind in a deal worth £121 million.
The wind farm in Scotland, which was jointly developed by Statkraft and Catamount Energy, in 2006, entered operation in 2017 and produces enough electricity to meet the annual needs of around 26,000 homes.
Statkraft, which will reinvest 100% of the proceeds of the sale into the development of renewable energy projects, will continue to maintain day-to-day operation and maintenance as well as asset management responsibilities until 2037.
It has also negotiated an extension of its existing long term market access power purchase agreement (PPA).
Eivind Torblaa, Vice President, Asset Ownership, 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.
“Since then, we’ve gone on to become an important player in the UK renewables market, with a portfolio that includes wind, solar, grid-stability and battery projects as well as being the leading provider of short and long term PPAs in the UK. The UK market is very important to Statkraft realising its global company goal of 8GW of developed wind and solar by 2025.”