Stake Transaction

On 14 August 2017, renewables investor Greencoat agreed a deal to acquire the 60MW North Hoyle offshore wind farm off the North Wales coast, marking its first majority acquisition in the offshore wind sector. The transaction, to be funded from Greencoat’s revolving credit facility, covered the entire North Hoyle project—which comprises 30 Vestas V80 turbines built in 2003–2004 and originally developed by Innogy and included in the Zephyr portfolio from 2005—with completion of the acquisition expected later that month.