Company changes will not impact on Caithness wind farm
Easier access to your trusted, local news. Have a look at our digital subscription packages!
A CAITHNESS wind farm will not be impacted by changes in one of the companies behind the project.
That was the assurance given by Greencoat UK Wind, which owns Stroupster wind farm, after 75 per cent of the shares in its investment arm, Greencoat Capital, was acquired by London-based Schroders plc – an asset management company which employs over 5,000 people worldwide in 32 locations around Europe, America, Asia, Africa and the Middle East.
A spokesman for Greencoat Captial said: "Stroupster is owned by Greencoat UK Wind, which is its own independent PLC with an independent board. Schroders has agreed to buy a 75 per cent stake in Greencoat Capital, which is investment manager to Greencoat UK Wind. So there will be no change whatsoever to Stroupster – same board, same management team, same ownership."
In a statement Greencoat UK Wind confirmed that Schroders plc has agreed to acquire a 75 per cent shareholding in Greencoat Capital.
"The board welcomes the transaction, and the additional capabilities which Schroders will bring to Greencoat Capital," it said.
The deal is expected to be completed within the first six months of 2022, subject to regulatory approval.
The Stroupster wind farm has 13 turbines and a generating capacity of 29.9 megawatts.
It is understood the new company will be called Schroders Greencoat and launch investment initiatives in the American and European markets.
Greencoat Capital is estimated to have £6.7 billion of assets under management.
Greencoat purchased Stroupster for £85 million in 2015 from German company BayWa.