A nine-turbine 18MW wind farm investment site located near Ogden in West Yorkshire has been brought to the market.
Ovenden Moor Wind Farm is being sold by Carter Jonas on behalf of Yorkshire Water.
The buyer will be granted a head lease for a peppercorn rent and the terms allow for a re-power or extension of the current development up to 2070.
The property is being sold to enable the current landowner to focus on investment in other renewable generating energy assets across its wider portfolio.
‘As a firm we are seeing an increase in the trading of renewable energy assets, but Ovenden is truly unique in terms of its scale and solid investment profile, with such sites rarely coming to market,’ said Carter Jonas’ senior energy specialist, Tom Allen.
‘The buyer would be acquiring a 50-year reversionary interest in the site, enabling them to realise any potential of the site being repowered or extended. As the government sets out a roadmap for achieving net zero carbon emissions by 2050, this renewable energy enterprise will make an essential contribution to lessening the dependency on fossil fuels.’
Yorkshire Water’s operational land manager Michael Poole added: ‘The sale of Ovenden Moor Wind Farm is aligned to our land strategy, which will allow us to put greater focus on the delivery of exceptional land for Yorkshire for many years to come.’
The property is being offered for sale by private treaty with offers sought in excess of £4m and equating to an initial yield of over 6.5%.
Photo Credit – Pixabay