SSE Renewables has agreed to sell its 100 per cent interest in the 18.8MW Slieve Divena II Wind Farm in Northern Ireland to Greencoat UK Wind for a total consideration of £51 million (€60.8m).
Slieve Divena II was developed by SSE Renewables near Ballygawley, Co. Tyrone, and comprises eight 2.35MW Enercon E-92 wind turbines. The wind farm entered commercial operation in 2017 and has 0.9/MWh Renewable Obligation Certificates under Northern Ireland’s support scheme. The wind farm is adjacent to the 30MW Slieve Divena wind farm, which Greencoat acquired in 2017.
Slieve Divena II is capable of generating enough clean, green energy to power 16,300 homes. The wind power generated at Slieve Divena II is helping to off-set around 15,200 tonnes of harmful CO2 emissions every year, contributing to Northern Ireland’s carbon reduction targets.
The transaction is expected to complete by the end of March 2020. SSE intends to use the proceeds to reduce net debt.
SSE Renewables is entering into an Asset Management Agreement to manage the wind farm on behalf of Greencoat following the sale while SSE’s retail arm in Ireland, SSE Airtricity, will continue to have the offtake of the green energy generated at the site.
SSE Airtricity will continue to operate the annual Community Fund for Slieve Divena II on behalf of Greencoat.