UK green energy group Renewable Energy Generation has sold the 12MW wind farm at Goonhilly Downs in Cornwall for more than £25million.
The deal, which will see REG land £10.6m in cash, will also see the purchasers – a fund managed by BlackRock – taking on £14.5m in project debt.
REG will continue to manage operations at the wind farm.
“This was the first wind project bought by REG back in 2005 and with its successful repowering we have created significant value for shareholders,” said REG chief executive Andrew Whalley.
“REG will continue to manage the project on behalf of BlackRock including oversight of the important Goonhilly Community Fund which has done so much in supporting local initiatives”.
The company has projects with 140MW awaiting planning approval.
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