Capital Dynamics buys North Ayrshire windfarm
Independent global private asset management firm Capital Dynamics has purchased a 100% equity stake in the Sorbie onshore wind project in North Ayrshire.
The firm purchased the 13 MW onshore, subsidy-free wind project from Energiekontor Sorbie for an undisclosed amount.
Sorbie is estimated to reduce greenhouse emissions by over 0.7 million metric tons during its lifetime – the equivalent of emissions produced by over 150,000 passenger vehicles driven for a year or the electricity to power over 110,000 homes for a year.
The project will commence construction in July 2021 and is expected to achieve commercial operations in the second half of 2022.
Once operational, the project will benefit from Capital Dynamics’ Clean Energy Infrastructure affiliate platform, Arevon Energy, and Energiekontor’s longstanding operations management experience and optimisation support.
Barney Coles, managing director, clean energy infrastructure at Capital Dynamics, said: “We are delighted that our multi-discipline collaboration with Energiekontor has yielded a second successful transaction in 2021, and together we look forward to bringing this critical UK infrastructure to fruition.
“In the year Scotland plays host to the COP 26 UN Climate Change Conference, we are proud to contribute to the region’s pursuit of meeting ambitious net-zero carbon targets and to support the UK’s post-pandemic ‘green recovery’ plan.”
Peter Szabo, CEO of Energiekontor, added: “We have always considered our Scottish pipeline, which we have built up over the last few years, to be of great value. With the sale of the Sorbie wind farm project the value has been confirmed a second time. We are delighted about the renewed cooperation with such a renowned investor like Capital Dynamics.”
Pinsent Masons LLP acted as legal counsel to Capital Dynamics on the acquisition and DNV GL served as lead technical advisor.