ERG Buys wind farm in Scotland for £60 million
(Teleborsa) - ERG, a company listed on Euronext Milan and active in the production of electricity from renewable sources, has signed a Share Purchase Agreement (SPA) with BayWa r.e AG to acquire 100 percent of the shares of BayWa r.e. UK (Jubilee) Limited, a company that owns Broken Cross Wind Farm Limited, which owns a 43.2 MW onshore wind farm in South Lanarkshire, Scotland.
The farm, commissioned during the fourth quarter of 2024, consists of nine Nordex N133 turbines of 4.8 MW each and benefits from a Contract for Difference (CfD) awarded in the AR4 auction with a 15-year term in line with the revenue securitization strategy pursued by the Group. Annual production is estimated at about 120 GWh, corresponding to 46 kt of CO2 emissions avoided each year, equivalent to the needs of more than 28,000 households.
L'enterprise value of the transaction amounts to 60 million pounds and the transaction is expected to close by January 2025.