18th Nov 2019 10:32
(Alliance News) - Greencoat Renewables PLC on Monday said it has bought Killala, a 20.4 megawatts wind farm situated in county Mayo, west coast of Ireland, for EUR37.2 million.
The Irish renewable infrastructure company said the project consists of five Siemens 3.4 megawatts turbines that have been operational since July.
Greencoat said an additional Siemens 3.4 megawatts turbine is currently under construction which will bring the installed capacity to 20.4 megawatts in the fourth quarter of 2020.
The acquisition is being funded by the company's EUR380 million credit facility, it said.
"We are pleased to announce the acquisition of Killala, adding another high-quality wind asset with long-term contracted revenue," said Investment Manager Paul O'Donnell.
"This is our first acquisition of a community windfarm and we are delighted that the local community will be sharing in the value created," added O'Donnell.
Greencoat Renewables shares were trading 0.1% lower in London on Monday at EUR1.22 each.
By Evelina Grecenko; [email protected]
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