Greencoat and HSBC – Acquisition of onshore wind portfolio in Scotland

Greencoat Capital-managed fund Greencoat UK Wind has teamed up with HSBC Bank UK Pension Scheme to acquire a 49% stake in the Stronelairg and Dunmaglass onshore wind farms in Scotland from SSE Plc. HSBC Bank UK Pension Scheme’s investment is being managed by Greencoat Capital through a vehicle called Greencoat Buckingham Assets. Greencoat UK Wind, will pay GBP 452m in equity for its 35.5% in the two wind farms. The HSBC scheme has agreed to pay GBP 183m in equity for its net 14.4% stake