Tyrone wind farm sold as part of deal worth over €100m
A Northern Ireland wind farm has been sold as part of a £105m deal, it has emerged.
Greencoat UK Wind has agreed to acquire two wind farms from institutional investors in Liverpool and Northern Ireland for around £105m.
The acquisitions of the North Hoyle and Slieve Divena wind farms are expected to complete this month and will be funded by the renewable infrastructure fund's revolving credit facility.
The deal adds a total capacity of 90MW and takes Greencoat UK's net generating capacity to 547MW.
Slieve Divena is located in Co Tyrone, and has a capacity of 30MW. It was originally developed by SSE, and also receives one renewable obligation certificate per megawatt hour.
North Hoyle was developed by German firm Innogy SE and was commissioned in June 2004, making it one of the UK's earliest offshore wind farms. Located five miles offshore in Liverpool Bay, it has a capacity of 60MW and receives one renewable obligation certificate per megawatt hour.
Following completion of the acquisitions, Greencoat UK's total borrowings will amount to £318m, equivalent to 28pc of gross asset value.
Earlier this summer it was revealed that renewable energy giant Gaelectric is launching two new wind farms in Co Tyrone as part of a £41m investment.