Published: 18 November 2021 18 November 2021
Octopus Renewables Infrastructure Trust has announced that following the completion of the acquisition of the Cumberhead Wind Farm from RDC Partners in September, construction at the project has commenced.
The Cumberhead Project, which is expected to be fully operational by Q4 2022, is a 50MW onshore wind farm located in South Lanarkshire, Scotland, and will consist of 12 Nordex N133 turbines and have an initial expected operating life of 25 years. The total consideration of the Cumberhead Project (including deferred consideration) and the subsequent construction costs is expected to be up to approximately £75 million. The Company has also entered into a Power Purchase Agreement (PPA) over the electricity to be generated at the Cumberhead Project with Kimberly Clark Limited. Once operational, the Cumberhead Project is expected to provide nearly 80% of the electricity needed to manufacture Kimberley Clark’s products in the UK. The new Cumberhead Wind Farm will generate approximately 160,000 megawatt hours of renewable energy annually.