27th Nov 2019 12:34
(Alliance News) - Ireland-focused infrastructure investment firm Greencoat Renewables PLC said Wednesday it acquired a wind farm in County Donegal for over EUR10 million.
Greencoat Renewables bought the 14.0 megawatts Beam Hill Wind Farm for EUR10.5 million, taking its total operational wind farm assets to 461 megawatts. Beam Hill constitutes of eight Vestas V66 turbines and has been operating since 2006.
The acquisition will be funded from its existing EUR380 million credit facility.
Bertrand Gautier, investment manager at Greencoat Renewables said: "We are pleased to announce the acquisition of Beam Hill Wind Farm, adding another high-quality wind asset to our portfolio."
"Beam Hill represents our first merchant wind farm acquisition and will allow Greencoat Renewables to explore different contracted power price structures, including the emerging corporate PPA (power purchase agreement) market in Ireland," Gautier added.
Shares in Greencoat Renewables were 0.3% higher at EUR1.16 in London on Wednesday.
By Ahren Lester; [email protected]
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