Energy investor buys wind farm in Kintyre
A wind farm project in Argyll and Bute that is expected to generate around £4m for the local economy has been acquired by a London-listed renewable energy investor.
Blary Hill wind farm project, which has the rights to build a 35 megawatt wind farm on the Kintyre peninsula in the west of Scotland, has been acquired The Renewables Infrastructure Group (TRIG), which has a portfolio of more than 70 wind, solar and battery storage projects in the UK and Europe.
The world’s largest independent renewable energy company, Renewable Energy Systems (RES), has developed Blary Hill and will construct the wind farm. Construction is expected to start this quarter, with the wind farm expected to be operational in the first quarter of 2022.
Headquartered in Hertfordshire, RES is active in 10 countries and has more than 2,000 employees.
Blary Hill will be one of the first wind farms to be built in Scotland without public subsidies.
“The project will create more than £3.9 million of inward investment for the local economy during the wind farm’s construction and first year of operation,” TRIG said in a statement.
Once constructed, Blary Hill will represent around 2.5% of TRIG’s portfolio value. The project will consist of 14 N90 turbines built by Hamburg-based firm Nordex SE and will generate revenues by selling power into the wholesale market.
TRIG’s 70 current investments have an overall generating capacity of 1,664 megawatts.
“TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy,” the company said.
Source: The Herald
Published: 22-01-2020
