GRP acquires Knocknalour Wind Farm for EUR 10.9 mn

RNS Number : 4437B

Greencoat Renewables PLC

21 September 2018

 

Greencoat Renewables acquires Knocknalour Wind Farm for €10.9 million

Dublin, London, 21 September 2018: Greencoat Renewables PLC ("Greencoat Renewables") the Irish renewable infrastructure company, is pleased to announce it has acquired Knocknalour, a 9.2MW wind farm situated in County Wexford, for a total enterprise value of €10.9 million from a group of local developers.

Knocknalour wind farm consists of four Enercon E70 turbines. The wind farm was commissioned in September 2013 and its revenues are contracted under the REFIT scheme, providing a long term guaranteed minimum floorprice for the electricity generated. Following the acquisition, Enercon will continue to manage the wind farm's O&M contract.

The acquisition was funded by Greencoat Renewables €250 million credit facility. Following the acquisition, Greencoat Renewables total borrowings will be 21% of Gross Asset Value (excluding consideration of the Coillte acquisition which is expected to close during November 2018).

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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 Corporate Finance (Broker, NOMAD and ESM Adviser) Fergal Meegan Barry Murphy Ronan Veale					[phone]
RBC Capital Markets (Joint Broker) Matthew Coakes Jonathan Hardy					[phone]

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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