Independent renewable developers Muirhall Energy and WWS Renewables have sold their operational 15 turbine Tormywheel Wind Farm to world leading asset management firm BlackRock.

The deal puts Muirhall and WWS in the enviable position of being able to progress a number of consented projects currently in their portfolio.

The Tormywheel project which was built and operated by Muirhall and WWS, lies south west of Breich, West Lothian and generates enough energy to supply 18,000 local homes. The Community Benefits package set up by Muirhall sees 14 local groups receive a share of £3,750,000 over the operational lifetime of the windfarm, which has been safeguarded as part of the deal.

Muirhall Managing Director, Chris Walker said:

“We are delighted to have worked with BlackRock on this transaction and are excited at the future opportunities it opens up for us.”

“Onshore wind and solar face a challenging future as they compete with other forms of power generation, but Muirhall is up for the challenge. We continue to find innovative ways to drive down costs and support the energy strategy of the Scottish Government.”

Mr Walker continued:

“At Muirhall Energy, our focus is to expand by seeking further avenues for development and growing a diverse portfolio with our knowledgeable team.”

Ilan Reich, of WWS Renewables commented:

“We are pleased that the WWS partnership with Muirhall Energy and NATS has not only resulted in the construction and operation of Tormywheel Wind Farm, but a new Terma Radar at Edinburgh Airport. This opens up for us further options for development under the radar mitigation, as well as the potential for wind projects by other developers in central Scotland to be realised.”

Rory O’Connor, Managing Director and Head of Renewable Power for Europe at BlackRock said:

“We are very pleased to invest in the Tormywheel wind project on behalf of our clients. This transaction represents BlackRock’s continued focus on renewable power, where the firm now has $4.9 billion of equity assets under management[1]. We also continue to see the UK as an attractive market for wind assets, which is reflected in 68 wind project investments.”

12th October 2017

Photo: View from hub over Tormywheel – Credit: Jose Vega Lozano of Photo Energy

[1] Source: BlackRock, as of September 18, 2017