21st Dec 2020 14:02
Greencoat Renewables PLC - renewable energy company with offices in London and Dublin - Announces agreement to acquire the Cloghan and Taghart wind farms in Ireland for a combined total of EUR123 million from Norwegian hydropower company Statkraft AS. Cloghan is located in County Offaly and Taghart is in County Cavan. Says Statkraft will manage the construction of each wind farm, which is scheduled to begin soon and the acquisition is due to complete once the wind farms are fully operational, expected in "late" 2022.
"We expect this combination of contracted revenues and forward-purchases to become commonplace in both Ireland and Europe over the next few years, and we believe Greencoat Renewables is well positioned given our scale and the strength of our relationships," says Paul O'Donnell, partner at investment manager Greencoat Capital, which owns Greencoat Renewables.
Current stock price: EUR1.16
Year-to-date change: down 3.3%
By Zoe Wickens; [email protected]
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