UKW buys Grimsby wind farm for £47m

Greencoat UK Wind plc (UKW) said it acquired Bishopthorpe Wind Farm near Grimsby from BayWa r.e. for about £47 million.

Bishopthorpe has a capacity of 16.4MW and was commissioned in May 2017.

Bishopthorpe is the fifth wind farm that UKW has bought from BayWa r.e. and follows on from Cotton Farm and Earl’s Hall Farm in 2013, Kildrummy in 2014 and Stroupster in 2015.

Including Bishopthorpe, BayWa r.e. now operates eight wind farms in UKW’s portfolio.

Following completion, UKW’s total borrowings amount to £175 million, equivalent to 18% of Gross Asset Value.