Dulas Ltd., a provider of renewable-energy services, bought Scottish wind-mast supplier Chillwind Ltd. to expand its operations in the wind-power industry.
The acquisition was supported by HSBC Commercial Bank, the lender said today in an e-mailed statement, without giving financial details. Chillwind makes wind monitoring equipment for mountainous areas and has been a partner of Powys, Wales-based Dulas for the past decade, according to the statement.
The transaction is a “response to growing demand for wind power solutions across the U.K.,” Dulas’s Chief Executive Officer Sanjay Bowry said in the statement.
The U.K. wants clean energy to provide 15 percent of its energy needs by 2020, up from about 3.8 percent now. Cumulative installed onshore wind capacity grew 13.2 percent in the first quarter from a year earlier, according to data from the Department of Energy and Climate Change.