GRP acquires 14.0MW Beam Hill Wind Farm

RNS Number : 7208U

Greencoat Renewables PLC

27 November 2019

 

Greencoat Renewables acquires 14.0MW Beam Hill Wind Farm

Installed capacity increased to 461MW

Dublin, London, 27 November 2019: Greencoat Renewables PLC ("Greencoat Renewables" or "the Company") the Irish renewable infrastructure company invested in euro-dominated assets is pleased to announce it has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5 million. This brings Greencoat Renewables' portfolio of operational wind assets to 461MW.

The wind farm consists of 8 Vestas V66 turbines that have been operational since November 2006. Vestas will continue to manage the operations and maintenance contract.

The acquisition is being funded by the Company's €380 million credit facility. Following the acquisition, Greencoat Renewables total borrowings are 48% of Gross Asset Value.

Bertrand Gautier Investment Manager 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 market 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)
Jonathan Neilan					[phone]
Melanie Farrell					[e-mail]
Davy (Broker, NOMAD and Euronext Growth Adviser) Fergal Meegan Barry Murphy Ronan Veale					[phone]
RBC Capital Markets (Joint Broker) Matthew Coakes Jonathan Hardy					[phone]

Elizabeth Evans

About Greencoat Renewables PLC

Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets and is focused on the acquisition and management of operating wind farms in Ireland. It is managed by Greencoat Capital LLP, an experienced investment manager in the listed renewable energy infrastructure sector.

 

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