The transaction comprises a cash consideration of £28.1m paid to SSE and outstanding project debt of £25.7m, transferred to Infinis, giving a total of £53.8m.
The 30MW Ardrossan Windfarm was originally owned by Airtricity - itself acquired by SSE in 2008 - and Viridis on a 51/49 per cent basis. SSE acquired Viridis’ interest in April 2010.
The wind farm at Ardrossan was first commissioned in 2004 and was extended in 2009. All of the electricity generated at the site is sold to a third party.
’We own generation assets in order to provide electricity for our customers and with electricity generated at the site going elsewhere, Ardrossan did not fit in to our portfolio,’ said Gregor Alexander, finance director of SSE. ’In our results statement earlier this week, we said we would use acquisitions and disposals to optimise our wind-farm portfolio, and this sale is in line with that.’
UK not prepared for climate impacts, says CCC
Perhaps a Longtitude prize to solve railway line problems. "extreme heat causing further disruption through rail buckling and power line...