Greencoat Renewables Acquisition
17 February 2018 - 2:47AM
UK Regulatory
TIDMGRP
Greencoat Renewables to Acquire Lisdowney Wind Farm for EUR22.5
million
Dublin, London, 16 February 2018 | Greencoat Renewables PLC
("Greencoat Renewables") the Irish renewable infrastructure
company, today announces the acquisition of Lisdowney, a 9.2MW wind
farm situated in County Kilkenny, for a total consideration of
EUR22.5 million.
Lisdowney wind farm consists of four Enercon E82 turbines. The
wind farm was commissioned in November 2016 and its revenues are
contracted under the REFIT 2 scheme until 2031, guaranteeing a
minimum floorprice for the electricity generated. Following the
acquisition Enercon will continue to manage the wind farm's O&M
contract.
The acquisition will be subject to an adjustment mechanism that
will assess actual energy production over an 18 month period and
the acquisition price will be adjusted accordingly if required.
Paul O'Donnell, Partner at Greencoat Capital, the Investment
Manager said: "We're very pleased with the acquisition of
Lisdowney, a high quality addition to our portfolio. This
acquisition is in line with our strategy of acquiring high quality
wind farms in the Republic of Ireland. We will continue to work
with both international and local developers, providing them with
an opportunity to recycle capital into new projects, while enabling
us to drive long-term value for our shareholders."
The acquisition was funded by Greencoat Renewables EUR250
million credit facility. Following completion of Lisdowney and
Dromadda More, Greencoat Renewables total borrowings will be 41% of
Gross Asset Value.
--- ENDS ---
For further details contact:
Greencoat Capital LLP
(InvestmentManager)
Bertrand Gautier +44 20 7832 9400
Paul O' Donnell
FTI Consulting (Investor
Relations & Media)
Jonathan Neilan +353 1 765 0886
Melanie Farrell greencoat@fticonsulting.com
Davy Corporate Finance (Broker, +353 1 679 6363
NOMAD and ESMAdviser)
Fergal Meegan
Barry Murphy
Ronan Veale
RBC Capital Markets (Joint Broker) +44 20 7653 4000
Matthew Coakes
Jonathan Hardy
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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20180216005436/en/
This information is provided by Business Wire
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