Greencoat UK Wind has completed its acquisition of a 49.9% interest in Kype Muir Extension wind farm in South Lanarkshire, Scotland.

The firm initially committed to acquiring the interest in December 2020 from Banks Renewables, stating a £51.4m price tag. The investment was made during the farm’s construction through a loan, which has now been repaid.

The acquisition takes Greencoat’s portfolio to 49 UK wind farms, which boasts a combined net generating capacity of 2,007 megawatts.

Greencoat UK Wind said it "provides investors with the opportunity to participate directly in the ownership of UK wind farms, so increasing the resources and capital dedicated to the deployment of renewable energy and the reduction of greenhouse gas emissions".

The firm is managed by a team at Schroders Greencoat LLP, which boasts over £10bn of assets under management.

Following the announcement, the stock price in Greencoat UK Wind increased by 0.3% to 145.33 pence per share, according to Morning Star.

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