Greencoat Renewables PLC Completion of Cloghan Wind Farm acquisition (6134Z)
16 Mayo 2023 - 8:35AM
UK Regulatory
TIDMGRP
RNS Number : 6134Z
Greencoat Renewables PLC
16 May 2023
Completion of Cloghan Wind Farm acquisition
Transaction brings total installed capacity to 1,265MW
Dublin, London, 16 May 2023: Greencoat Renewables PLC
("Greencoat Renewables") announces it has completed the acquisition
of the 37.8MW Cloghan Wind Farm ("Cloghan"), located in County
Offaly, Ireland.
Cloghan was acquired in December 2020 under a forward sale
commitment from Statkraft, who managed the construction of the wind
farm and who will continue to provide trading and operational
management services. The wind farm benefits from a 15-year fixed
price contract, secured under the RESS 1 auction, until 2037.
Greencoat Renewables' total borrowings are now c. 47% of Gross
Asset Value.
Paul O'Donnell, Investment Manager said :
"We are pleased to complete the acquisition of this long-term
asset and further strengthen Greencoat Renewables' market position
in the Irish wind sector, which benefits from strong contracted
cash flows and where we continue to see opportunities in onshore
wind. We are also delighted to partner with Statkraft once again
and to deliver additional capacity through our flexible forward
sale model."
--- ENDS ---
For further details contact:
Schroders Greencoat LLP (Investment Manager)
Bertrand Gautier
Paul O'Donnell
Tom Rayner +44 20 7832 9400
FTI Consulting (Investor Relations & Media)
Melanie Farrell
Orla Cox greencoat@fticonsulting.com
Davy (Joint Broker, Nomad and Euronext Growth Listing Sponsor)
Brian Garrahy
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 Schroders Greencoat, an
experienced investment manager in the listed renewable energy
infrastructure sector.
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May 16, 2023 09:35 ET (13:35 GMT)
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