Greencoat Renewables PLC Acquisition of 37MW Tullahennel Wind Farm (7962B)
16 February 2022 - 6:00PM
UK Regulatory
TIDMGRP
RNS Number : 7962B
Greencoat Renewables PLC
16 February 2022
Acquisition of 37MW Tullahennel Wind Farm in Ireland
Transaction brings total installed capacity to 837MW
Dublin, London, 16th February 2022: Greencoat Renewables PLC
("Greencoat Renewables" or the "Company"), the renewable
infrastructure company invested in euro-denominated assets, is
pleased to acquire Tullahennel wind farm from funds managed by
affiliates of Apollo Global Management, Inc.
The windfarm is located in County Kerry, Ireland and consists of
13 GE 2.85MW turbines that have been operational since September
2018. The windfarm's revenues are contracted under the REFIT 2
scheme, providing a long-term guaranteed minimum floor price for
the electricity generated until December 2032. GE 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 43% of Gross Asset Value.
Paul O'Donnell, Investment Manager said:
"We are pleased to continue consolidating the Irish renewable
energy market with the acquisition of another high-quality asset
with long-term contracted revenues.
We are encouraged by the range of attractive opportunities that
exist, both in Ireland and the wider European market and are
focused on building the premier European renewable energy portfolio
which offers strong secure long-term income for shareholders."
--- ENDS ---
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
Melanie Farrell greencoat@fticonsulting.com
Davy (Broker, NOMAD and Euronext Growth Adviser)
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 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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END
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