JLL advises on disposal of 79.2MW Creag Riabhach Wind Farm, UK
JLL's Energy & Infrastructure Advisory team has successfully completed the disposal of Creag Riabhach Wind Farm Limited (CRWFL), acting as lead adviser to the shareholders in the sale of their 100% equity interest to ERG Power Generation SpA, a subsidiary of Italian power producer ERG SpA (ERG)
CRWFL holds the rights to the consented 79.2MW Creag Riabhach Wind Farm in Sutherland, UK, which will comprise 22 wind turbines and produce c.250GWh of clean energy per year, saving approximately 147,000 tonnes of CO2 annually. Construction is due to begin in 2020 and full operation is scheduled to be achieved during Q1 2022. The overall investment in the project by ERG is expected to total £89m.
Dane Wilkins, Head of JLL Energy & Infrastructure, JLL, said: "The closing of this transaction and the market-leading value achieved through JLL's competitive disposal process is an important milestone in the expansion of merchant wind in the UK, providing further evidence of the continued attractiveness of UK onshore wind across the long-term. We are delighted to have assisted the shareholders and developers of Creag Riabhach Wind Farm in the disposal of the project to ERG, who are a European market-leader and an excellent fit to successfully deliver this project."