Funds managed by British investment firm Schroders Greencoat LLP have acquired complete ownership of the 67.2-MW Kype Muir Extension wind farm in Scotland, following its recent inauguration by renewables developer OnPath Energy.
OnPath Energy finalized the sale of its remaining 50.1% interest in the project, which marks the close of a transaction that began nearly a year ago when Greencoat UK Wind Plc purchased an initial 49.9% stake.
Located near Strathaven in South Lanarkshire, the 15-turbine Kype Muir Extension was commissioned adjacent to the 26-turbine Kype Muir wind farm, which was built by OnPath Energy in 2019. The Kype Muir Extension was connected to the grid in 2022 and formally opened this past September.
Operating without state subsidies, the plant is secured under a 15-year fixed power purchase agreement (PPA) and is expected to meet the annual energy needs of approximately 53,700 homes.
The new owner will continue a GBP 10 million (USD 13 million) commitment for local community and environmental initiatives, funded through Kype Muir Extension's revenues, as confirmed by OnPath Energy. The proceeds from the sale will support OnPath Energy's investment in future renewable energy projects.
