| 6.4°C Dublin

Greencoat buys Co Clare windfarm for €35.4m


Stock image

Stock image

Stock image

Greencoat Renewables has bought a 14.1 megawatt (MW) windfarm in Clare for €35.4m in a deal that brings its wind assets portfolio to 476MW.

The windfarm consists of 6 Enercon E92 turbines and its revenues are guaranteed by the State's Renewable Energy Feed-in Tariff 2 scheme which provides long-term guaranteed minimum floor price for the electricity until 2032.

Enercon will continue to manage the operations and maintenance contract and the purchase is being funded from an existing €380m credit facility.

Greencoat Renewables invests in euro-denominated renewable energy infrastructure assets and is focused on the acquisition and management of operating Irish windfarms.

"We will continue to work with both international and local developers, providing them with an opportunity to recycle capital into new projects, while enabling us to drive long-term value for our shareholders," said Greencoat's investment manager Paul O'Donnell.

Irish Independent