Velocita: Sale of 24MW Maerdy wind farm to Greencoat UK Wind

Onshore wind energy company Velocita Energy Developments (“Velocita”) has announced the sale of its 24MW Maerdy wind farm to Greencoat UK Wind.

Augusta & Co Plc was retained as exclusive financial adviser to Velocita on this assignment.

The wind farm, located in South Wales, comprises 8 Siemens SWT 3.0-101 direct drive turbines and was completed in summer 2013.

Commenting on the announcement, Andrew Lee, CEO of Velocita said:

“The acquisition of Maerdy by Greencoat UK Wind confirms Velocita’s objective of constructing and operating wind farms of the highest technical, contractual and financial calibre, attractive to leading institutional purchasers. Augusta & Co played a key role in the transaction and delivered an attractive valuation in a swift time frame. We are looking forward to working with them again”

The transaction closed in June 2014.