Greencoat raises stake in Scottish wind farm

Greencoat UK Wind, the renewable infrastructure fund that owns a string of assets in Scotland, is to increase its shareholding in the Clyde wind farm to 28.2 per cent in a £114.2 mil‑ lion deal.

The fund said yesterday that it was also raising up to £118.8m through a plac‑ ing of new shares. The 522 megawatt Clyde wind farm in situated in South Lan‑ arkshire.

GLIL Infrastructure LLP will be exercising its option to increase its sharehold‑ ing in Clyde to 21.7 per cent at the same time.

Greencoat UK Wind said that the net proceeds of the placing would be used to fund the purchase of UKW’S further Clyde share‑ holding which will com‑ plete on 30 May.