Agreement to acquire 134MW Ersträsk North Windfarm

RNS Number : 0948Q

Greencoat Renewables PLC

24 June 2022

 

Greencoat Renewables increases Nordic Presence

Agreement to acquire the 134.4MW Ersträsk North Wind Farm

Dublin, London, 24 June 2022 | Greencoat Renewables PLC ("Greencoat Renewables"), the renewable infrastructure company invested in euro-denominated assets, announces an agreement to acquire the 134.4MW Ersträsk North wind farm in Norrbotten County, Sweden from Enercon on a forward sale basis.

The wind farm is currently under construction and is expected to be fully commissioned in Q4 2023. Once operational, Enercon will provide long term operations and maintenance services. Ersträsk North will initially operate as a merchant asset but has the flexibility in the future to contract the electricity produced via a corporate PPA.

This is the Company's second acquisition in this location, having acquired Ersträsk South wind farm in October 2021, and will bring Greencoat Renewable's overall capacity on this site to 235MW.

Paul O'Donnell, Partner at Greencoat Capital, the Investment Manager, said:

"We are delighted to partner with Enercon and agree to acquire the Ersträsk North windfarm.

Sweden is becoming a major hub for green energy, with the combination of low-cost generation and a number of attractive routes to market.

As the renewable generation market continues to develop, we expect to see greater opportunity in the unsubsidised renewables market and believe Greencoat Renewables is well positioned to benefit both across mainland Europe and in Ireland."

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For further details contact:

Greencoat Capital LLP (Investment Manager)
Bertrand Gautier Paul O' Donnell Tom Rayner					[phone]
FTI Consulting (Investor Relations & Media)
Melanie Farrell
Orla Cox					[e-mail]
Davy (Broker, NOMAD and Euronext Growth Listing Sponsor) Barry Murphy Ronan Veale					[phone]
RBC Capital Markets (Joint Broker) Matthew Coakes Elizabeth Evans					[phone]

About Greencoat Renewables PLC

Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets. Initially focused solely on the acquisition and management of operating wind farms in Ireland, the Company is now also investing in wind and solar assets in certain other European countries with stable and robust renewable energy frameworks. It is managed by Greencoat Capital LLP, an experienced investment manager in the listed renewable energy infrastructure sector.

For more information about Greencoat Renewables PLC, please visit http://www.greencoat-renewables.com/

 

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