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Greencoat Renewables Acquires Ireland-Based Letteragh Wind Farm for EUR 35m
Thursday 20 February 2020

20 February 2020 - UK-based renewable infrastructure company Greencoat Renewables PLC (LSE: UKW) has acquired Ireland-based 14.1mw Letteragh Wind Farm for EUR 35.4m (USD 38.2m), the company said.
The acquisition brings Greencoat Renewables' portfolio of operational wind assets to 476MW.
The acquisition is being funded by the company's EUR 380m (USD 410m) credit facility. Following the acquisition, Greencoat Renewables total borrowings represent 38% of Gross Asset Value.
The wind farm consists of 6 Enercon E92 turbines that have been operational since December 2019. The wind farm's revenues are contracted under the REFIT 2 scheme, providing long term guaranteed minimum floor price for the electricity generated until 2032.
Enercon will continue to manage the operations and maintenance contract.
Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets and is focussed 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.
Date Published: 20/02/2020
Target: Letteragh Wind Farm
Country: Ireland
Deal Size: 38.2m (USD)
Sector: Alternative Energy
Type: LBO
Financing: Cash
Status: Closed
Buyer: Greencoat Renewables