No longer on the market
This property is no longer on the market
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Key information
Features and description
- For sale – fit accredited renewable energy investment opportunity
- Average of 2,500 mwh per year since 2018 offsetting 23,500 tons of co2 uncapped rpi linked investment
GFW are delighted to sell two wind turbines located in Lincolnshire. We are currently carry out asset management for the existing owner, which can be novated to a new owner if required.
MARKET COMMENTARY
There is a global race to develop new green technology, kick-start new industries and attract private investment in order to reduce the global reliance on imported fossil fuels and protect consumers from global price spikes.
The UK government has recently set out a strategy on how it will deliver on its commitment to reach net zero emissions by 2050. This includes £100 billion of private sector investment by 2030 into new British industries including wind technologies and supporting around 480,000 clean jobs by the end of the decade.
DESCRIPTION
GFW are delighted to sell two wind turbines located in Lincolnshire. We are currently carry out asset management for the existing owner, which can be novated to a new owner if required.
These wind turbines were installed by the current owner in 2015. There is a service and maintenance agreement with turbine manufacturer, which provides a 95% availability warranty. This can also be transferred to a new owner.
Both turbines are FIT and REGO accredited providing guaranteed government backed income streams as well as the associated green
credentials. There are a further 13 years of subsidised FIT payments and a further 5 years until planning permission expires in 2040.
We have estimated that the turbines will offset approximately 23,500 tons of CO2 within their lifetime.
TECHNICAL SPECIFICATION
Comprising two ROO-FIT accredited 500KW wind turbines, commissioned in 2015. Both EWT turbines were constructed with a 50m hub height and rotor diameter of 54m.
INCOME TARIFFS
TURBINE 1 Rate (/MWh)
PPA Rate (currently) £71.91/MWh
PPA Rate (from 1/4/23) £160.62/MWh
Feed In Tariff £167.10/MWh
TURBINE 2
Rate (/MWh)
PPA Rate (currently) £67.28/MWh
PPA Rate (from 1/4/23) £148.39/MWh
Feed In Tariff £185.60/MWh
The PPA rate on Turbine 2 has been agreed to increase to £148.39/MWh from £67.28/MWh representing an uplift of 111%. The PPA rate on Turbine 1 has been agreed to increase to £160.62/MWh from £71.91/MWh representing an uplift of 123%.
The Feed In Tariff on both turbines benefits from RPI linked uplifts on the 1st April every year.
KWH GENERATION
TURBINE 1 KWH
2018-19 1,159,711
2019-20 1,346,028
2020-21 1,341,858
2021-22 1,173,498
Average 1,255,274
TURBINE 2 KWH
2018-19 1,162,052
2019-20 1,333,965
2020-21 1,284,193
2021-22 1,121,161
Average 1,225,343
CASH FLOW ANALYSIS
INCOME
Combined income over the last 4 years has averaged £450,000 per annum. The recent market volatility in the energy sector has shown significant increase in the revenue generated from electricity sales.
We have recently seen 150% growth on renewal terms and anticipate this growth to continue as the demand for renewable energy increases.
Based on previous output levels & contracted PPA and FIT rates we expect to see revenue in excess of £800,000 for the financial year 2023/2024.
TURBINE 1
Planning permission expires on 30th November 2040
The Feed-In Tariff expiry date is 30th November 2035.
The current Power Purchase agreement expiry date is 31st March 2023.
TURBINE 2
Planning permission expires on 30th April 2040.
The Feed-In Tariff expiry date is 30th April 2035.
The current Power Purchase agreement expiry date is 30th April 2024.
We anticipate significant growth in both the Feed In Tariff and Power Purchase agreement rates over the lifetime of the income.
TENURE
We are instructed to sell the assets on a long-leasehold interest, for a term of years expiring on 1st March 2041.
LEGAL COSTS
Each party is to be responsible for their own costs incurred in the transaction.
PROMOTIONAL VIDEO
Click HERE to be diverted to our promotional video hosted by YouTube.
AML REGULATIONS
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
CONTACT INFORMATION
GFW are retained as sole selling agent.
MARKET COMMENTARY
There is a global race to develop new green technology, kick-start new industries and attract private investment in order to reduce the global reliance on imported fossil fuels and protect consumers from global price spikes.
The UK government has recently set out a strategy on how it will deliver on its commitment to reach net zero emissions by 2050. This includes £100 billion of private sector investment by 2030 into new British industries including wind technologies and supporting around 480,000 clean jobs by the end of the decade.
DESCRIPTION
GFW are delighted to sell two wind turbines located in Lincolnshire. We are currently carry out asset management for the existing owner, which can be novated to a new owner if required.
These wind turbines were installed by the current owner in 2015. There is a service and maintenance agreement with turbine manufacturer, which provides a 95% availability warranty. This can also be transferred to a new owner.
Both turbines are FIT and REGO accredited providing guaranteed government backed income streams as well as the associated green
credentials. There are a further 13 years of subsidised FIT payments and a further 5 years until planning permission expires in 2040.
We have estimated that the turbines will offset approximately 23,500 tons of CO2 within their lifetime.
TECHNICAL SPECIFICATION
Comprising two ROO-FIT accredited 500KW wind turbines, commissioned in 2015. Both EWT turbines were constructed with a 50m hub height and rotor diameter of 54m.
INCOME TARIFFS
TURBINE 1 Rate (/MWh)
PPA Rate (currently) £71.91/MWh
PPA Rate (from 1/4/23) £160.62/MWh
Feed In Tariff £167.10/MWh
TURBINE 2
Rate (/MWh)
PPA Rate (currently) £67.28/MWh
PPA Rate (from 1/4/23) £148.39/MWh
Feed In Tariff £185.60/MWh
The PPA rate on Turbine 2 has been agreed to increase to £148.39/MWh from £67.28/MWh representing an uplift of 111%. The PPA rate on Turbine 1 has been agreed to increase to £160.62/MWh from £71.91/MWh representing an uplift of 123%.
The Feed In Tariff on both turbines benefits from RPI linked uplifts on the 1st April every year.
KWH GENERATION
TURBINE 1 KWH
2018-19 1,159,711
2019-20 1,346,028
2020-21 1,341,858
2021-22 1,173,498
Average 1,255,274
TURBINE 2 KWH
2018-19 1,162,052
2019-20 1,333,965
2020-21 1,284,193
2021-22 1,121,161
Average 1,225,343
CASH FLOW ANALYSIS
INCOME
Combined income over the last 4 years has averaged £450,000 per annum. The recent market volatility in the energy sector has shown significant increase in the revenue generated from electricity sales.
We have recently seen 150% growth on renewal terms and anticipate this growth to continue as the demand for renewable energy increases.
Based on previous output levels & contracted PPA and FIT rates we expect to see revenue in excess of £800,000 for the financial year 2023/2024.
TURBINE 1
Planning permission expires on 30th November 2040
The Feed-In Tariff expiry date is 30th November 2035.
The current Power Purchase agreement expiry date is 31st March 2023.
TURBINE 2
Planning permission expires on 30th April 2040.
The Feed-In Tariff expiry date is 30th April 2035.
The current Power Purchase agreement expiry date is 30th April 2024.
We anticipate significant growth in both the Feed In Tariff and Power Purchase agreement rates over the lifetime of the income.
TENURE
We are instructed to sell the assets on a long-leasehold interest, for a term of years expiring on 1st March 2041.
LEGAL COSTS
Each party is to be responsible for their own costs incurred in the transaction.
PROMOTIONAL VIDEO
Click HERE to be diverted to our promotional video hosted by YouTube.
AML REGULATIONS
In accordance with anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
CONTACT INFORMATION
GFW are retained as sole selling agent.
Area statistics
Crime score
Low crime
0/10
About this agent
GFW has been selling and letting property successfully since 1979. Established as one of the region's foremost experts, we offer unrivalled coverage across Northern England and Southern Scotland. We are a local agent who prides ourselves on being reliable, professional and friendly. We are dedicated to providing an honest and compliant service, and as members of ARLA PropertyMark, we are always up to date with the latest legislation in order to protect both landlords and tenants.