Greencoat Renewables has acquired Glencarbry wind farm from John Laing Group for £26.6 million.
Glencarbry, in County Tipperary, Ireland, 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.
Including the previously announced acquisition of Cordal wind farm which has now completed, Greencoat Renewables’ total installed generating capacity has increased to 685.6MW.
John Laing said the sale represents a 6% premium to book value for the asset at 31 December 2020. It said the sale is in line with the group’s strategy to reduce its exposure to Renewable Energy generation assets.
Paul O’Donnell, Greencoat Renewables 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 revenues.
“…We continue to see a range of attractive opportunities, both in Ireland and the wider European market.”