Greencoat Renewables PLC Agreement to Acquire 89.6MW Cordal Wind Farm (4778Q)
26 February 2021 - 06:00PM
UK Regulatory
TIDMGRP
RNS Number : 4778Q
Greencoat Renewables PLC
26 February 2021
Greencoat Renewables agrees to acquire 89.6MW Cordal Wind
Farm
Installed capacity will increase to 650MW
Dublin, London, 26 February 2021: Greencoat Renewables PLC
("Greencoat Renewables" or "the Company"), the renewable
infrastructure company invested in euro-denominated assets, is
pleased to announce the agreement to acquire Cordal wind farm from
Cubico Sustainable Investments, a global renewable energy investor
and operator.
The wind farm is located in Co. Kerry, Ireland, and consists of
28 3.2MW GE turbines that reached full commercial operations in May
2018. 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 2032. GE will continue to manage
the operations and maintenance contract.
The acquisition is being funded by the Group's existing
revolving credit facility and is expected to close in April 2021.
Following the acquisition, Greencoat Renewables' total borrowings
will represent c.46% of Gross Asset Value.
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For further details contact:
Greencoat Capital LLP (Investment Manager)
Bertrand Gautier
Paul O' Donnell
Tom Rayner +44 20 7832 9400
FTI Consulting (Investor Relations & Media)
Jonathan Neilan +353 1 765 0886
Melanie Farrell greencoat@fticonsulting.com
Davy (Broker, NOMAD and Euronext Growth Adviser)
Fergal Meegan
Barry Murphy
Ronan Veale +353 1 679 6363
RBC Capital Markets (Joint Broker)
Matthew Coakes
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 investing in 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.
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