Longhill wind farm : Capital Dynamics acquires 50MW Scottish wind project from Energiekonto
Capital Dynamics, a Swiss private asset management firm, has acquired the 50MW Longhill wind farm project in Scotland from Energiekontor, a German renewable energy developer.
The financial terms of the deal were not disclosed.
Located in West Lothian, the Longhill wind project will be powered by eight Siemens Gamesa wind turbines that can generate 6.25MW each. It will produce enough renewable energy to meet the power consumption needs of more than 440,000 homes for a year.
Once operational, Longhill wind farm is expected to be one of the largest subsidy-free onshore wind projects in Britain. During its lifetime, the Scottish wind farm is projected to offset greenhouse emissions by more than 2.6 million metric tons.
The construction of the onshore wind farm in West Lothian will begin next month and is targeted to begin commercial operations in the second half of next year.
Capital Dynamics acquires Longhill wind farm in Scotland from Energiekonto
Comments on the sale of Longhill wind farm
Commenting on the sale of the Longhill wind farm project, Peter Szabo – CEO of Energiekontor said: “As is known, we have invested a lot of work in the expansion of our Scottish pipeline in recent years. With the sale of the Longhill wind farm project, we are reaping our first harvest here.
“We are delighted to have gained such a renowned partner in Capital Dynamics, with whom we will continue to enjoy working in the future.”
Upon completion, the Scottish wind farm will leverage Energiekontor’s operations management experience and optimization support and also benefit from Capital Dynamics’ clean energy infrastructure subsidiary platform – CD Arevon.
Commenting on the acquisition of the Longhill wind farm, Barney Coles – director of Capital Dynamics clean energy infrastructure, said: “The acquisition of Longhill wind farm demonstrates our commitment and contribution to the UK’s ‘net-zero’ climate targets, and in so doing we are delighted to have extended our subsidy-free renewable power investments footprint to a fourth European energy market.
“With this transaction, we are also excited to kick off a broader, multi-discipline collaboration with Energiekontor covering development, optimization and operations activities.”