20th Nov 2024 11:04
Greencoat Renewables PLC - Dublin-based investor in euro-denominated renewable energy infrastructure assets - completes sale of 43.2 megawatt Kokkoneva wind farm in Finland to Norwegian renewable energy company Aneo. Greencoat acquired Kokkoneva in 2022 and says sale is accretive to shareholders at 6% premium to net asset value. Proceeds of sale to reduce company's debt and result in reduction of gearing to 1%.
"We are pleased to complete the disposal of the Kokkoneva wind farm at an attractive premium to NAV. This transaction underlines the quality of our portfolio and our ability to execute on value-accretive opportunities to recycle capital," says Investment Manager Paul O'Donnell.
Current stock price: 85 euro cents, up 1.0% on Wednesday morning in London
12-month change: down 9.8%
By Christopher Ward, Alliance News reporter
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