Greencoat Renewables PLC Acquisition of 35.6MW Glencarbry Wind Farm
RNS Number : 2123U
Greencoat Renewables PLC
01 April 2021
Acquisition of 35.6MW Glencarbry Wind Farm
Transaction brings total installed capacity to 685.6MW
Dublin, London, 1 April 2021: Greencoat Renewables PLC
("Greencoat Renewables" or the "Company"), the renewable
infrastructure company invested in euro-denominated assets, is
pleased to acquire Glencarbry wind farm from John Laing Group.
Glencarbry is located in County Tipperary, Ireland and consists
of 12 Nordex turbines that have been operational since July 2017.
The wind farm's revenues are contracted under the REFIT 2 scheme,
providing a long-term guaranteed minimum floor price for the
electricity generated until July 2032. Nordex will continue to
manage the operations and maintenance contract.
The acquisition is being funded by the Company's existing credit
facility. Following the acquisition, Greencoat Renewables' total
borrowings will represent 49% of Gross Asset Value, in the middle
of the Company's target gearing range.
Including the previously announced acquisition of Cordal wind
farm which has now completed, Greencoat Renewables' total installed
generating capacity has increased to 685.6MW.
Paul O'Donnell, Investment Manager said:
"We are pleased to continue our strategy of consolidating the
Irish renewable energy market with the acquisition of Glencarbry
wind farm, another high-quality asset with long-term contracted
We are also pleased to have closed our second transaction with
John Laing, again demonstrating our ability to transact with
leading investors and developers across the sector.
We continue to see a range of attractive opportunities, both in
Ireland and the wider European market."
--- ENDS ---
For further details contact:
Greencoat Capital LLP (Investment Manager)
Tom Rayner +44 20 7832 9400
FTI Consulting (Investor Relations & Media)
Jonathan Neilan +353 1 765 0886
Melanie Farrell email@example.com
Davy (Broker, NOMAD and Euronext Growth Adviser)
Ronan Veale +353 1 679 6363
RBC Capital Markets (Joint Broker)
Elizabeth Evans +44 20 7653 4000
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 considering expansion into wind and solar
assets in certain other Northern 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact firstname.lastname@example.org or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
(END) Dow Jones Newswires
April 01, 2021 02:00 ET (06:00 GMT)