Renewables Infrastructure Group Ltd on Friday announced the sale of two UK onshore wind farms.
The Guernsey-based renewable energy investment company sold its 100% stake in the Scottish Forss and Little Raith assets for £51 million.
This represents a 4% premium from the valuation of the wind farms on December 31, and follows the sale of four other sites last year that raised £125 million.
Proceeds will be used to reduce debt. The company expects to reduce its revolving credit facility from £364 million at the end of last year to £150 million during 2024.
The Forss and Little Raith projects, which have a total generation capacity of 32 megawatts, have been owned and operated by Renewables Infrastructure since 2013 and 2019 respectively.
Shares in Renewables Infrastructure were down 0.7% to 98.22 pence in London on Friday afternoon.
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