The East Ayrshire town of Dalmellington has been known down the years for its coal mining, curling and weaving activities. From 2023 it may be more famous for the 50-turbine wind farm that will loom over the countryside a few miles down the road.
This new 240MW South Kyle facility will be built and run by Vattenfall, the Swedish energy giant, but owned by an infrastructure fund, Greencoat UK Wind, which agreed in April to acquire the asset for £320m.
It was the latest in a string of deals for Greencoat, which has maintained a low profile despite a rising share price that has powered it into the FTSE 250 with a market value surprisingly close to that of Centrica, the struggling owner of British Gas.
Since coming to market seven years ago with a plan to invest purely in wind farms in Britain, it has amassed a 36-site portfolio that provides enough electricity to power nearly a million homes.
Many of its deals are a carbon copy of South Kyle. Greencoat lets the big energy generators that need to “green” their portfolios take all the development risk and then provides a safe home for the asset when they want to free up capital. It has good relationships and long-term supply deals with five major utilities and, with only a 5pc share of the wind market, more to come.