Brookfield starts sale of 137 MW of Irish wind farms - report

Canada-based Brookfield Renewable Energy Partners LP (TSE:BEP.UN) has started looking for potential buyers for two Irish wind farms with a combined capacity of 137 MW, industry sources told the Sunday Independent.

Brookfield wants to sell the 100-MW Knockacummer wind park in Cork and the 37-MW Kill Hill facility in Tipperary. They are part of the wind business the renewables fund bought from Bord Gais Energy in 2014 for an enterprise value of EUR 700 million (USD 769m). That business included a 321-MW portfolio of operational wind farms plus some assets under construction and a 300-MW pipeline. It can now be valued at close to EUR 1 billion, market sources told the newspaper.

The Sunday Independent said that between 30 and 40 interested parties, including pension funds in the UK, Canada and Continental Europe, were sent documentation relating to the sale. In turn, sector publication Sparkspread said that Brookfield has appointed Societe Generale and BNP Paribas as advisors on the potential sale. Indicative bids are due this month, while binding ones are expected by the end of the year, it added.

The Sunday Independent added that Brookfield’s CEO Sachin Shah had recently confirmed that the company was considering creating value for stockholders by selling Irish assets.

(EUR 1.0 = USD 1.099)

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