OREANDA-NEWS. RWE Innogy is pleased to confirm the successful sale of a 49% share in both Lindhurst and Middlemoor onshore wind farms to Greencoat UK Wind plc.

Following these acquisitions, Greencoat UK Wind will have investments in ten wind farms in the UK with a net generating capacity of 184MW. Of the ten the number of RWE wind farms involved totals four, with minority interests in the offshore wind farm at Rhyl Flats, and the onshore wind farm at Little Cheyne Court already part of the fund.

With all four wind farms involved, RWE Innogy remains the majority owner, and continues to operate and maintain them.

By selling the shares in these wind farms RWE Innogy is raising ?70.6m capital that can be reinvested into other renewable energy projects.

Hans Bunting, CEO of RWE Innogy said: “I am delighted with the progress of the Greencoat UK Wind Fund and the addition of two more RWE projects. This continues to demonstrate the quality and attractiveness of our projects. Together with Greencoat UK Wind we are continuing to progress one of our key strategic objectives of opening up our projects to investors and raising additional capital for the progression of renewable energy in Europe via attractive investment models.”

Tim Ingram, Chairman of Greencoat UK Wind plc, said “We are delighted to acquire further high quality, utility constructed and operated wind farms and announce the continued expansion of our investment portfolio. Since listing we have invested ?134.2 million, including reinvestment, in adding 57.5MW of net capacity.”

Hans Bunting further commented: “The transformation of Europe's energy system to one of low carbon is the responsibility of everyone involved in the industry. At RWE, we are totally committed to achieving this and not only to deal successfully with changes in the market, but to help actively create and shape them. As a part of our strategy, we will continue to offer public and private investors attractive options of co-operation across our wide European project portfolio.

“With a current pipeline of 10GW across Europe, we are fully committed to growth in low carbon technologies, and by raising capital in this way, it will enable the UK to continue to play a significant role in the delivery of this pipeline, as we continue to invest in, build and operate more sites.”