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Greencoat Renewables (GRP)

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Wednesday 27 November, 2019

Greencoat Renewables

GRP acquires 14.0MW Beam Hill Wind Farm

RNS Number : 7208U
Greencoat Renewables PLC
27 November 2019
 

 

 

Greencoat Renewables acquires 14.0MW Beam Hill Wind Farm

 

Installed capacity increased to 461MW

 

Dublin, London, 27 November 2019: Greencoat Renewables PLC ("Greencoat Renewables" or "the Company") the Irish renewable infrastructure company invested in euro-dominated assets is pleased to announce it has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5 million. This brings Greencoat Renewables' portfolio of operational wind assets to 461MW.

 

The wind farm consists of 8 Vestas V66 turbines that have been operational since November 2006. Vestas will continue to manage the operations and maintenance contract.

 

The acquisition is being funded by the Company's €380 million credit facility. Following the acquisition, Greencoat Renewables total borrowings are 48% of Gross Asset Value.

 

Bertrand Gautier Investment Manager said: "We are pleased to announce the acquisition of Beam Hill Wind Farm, adding another high-quality wind asset to our portfolio. Beam Hill represents our first merchant wind farm acquisition and will allow Greencoat Renewables to explore different contracted power price structures, including the emerging Corporate PPA market in Ireland".

 

 

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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

 

 

 

 

[email protected]

 

Davy (Broker, NOMAD and Euronext Growth Adviser)

Fergal Meegan

Barry Murphy

Ronan Veale

 

 

 

 

 

 

 

 

+353 1 679 6363

 

RBC Capital Markets (Joint Broker)

Matthew Coakes

Jonathan Hardy

 

 

 

 

+44 20 7653 4000

Elizabeth Evans

 

 

 

About Greencoat Renewables PLC

Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets and is focused 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.

 

 

 

 


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