Greencoat Renewables buys 14-MW wind park in Ireland

Wind turbines in Ireland. Photo by: Greencoat Renewables (www.greencoat-capital.com).

February 17 (Renewables Now) - Irish renewable infrastructure company Greencoat Renewables Plc (LON:GRP) on Monday said it has purchased a 14.1-MW wind power facility in County Clare, western Ireland.

The company has paid an initial consideration of EUR 35.4 million (USD 38.4m) for the Letteragh Wind Farm. The facility, consisting of six turbines provided by German wind turbine maker Enercon GmbH, was commissioned in December. The wind farm benefits from a guaranteed minimum price for the power it produces until 2032 under the Renewable Energy Feed-in Tariff (REFIT) 2 scheme in Ireland. Enercon will remain in charge of operations and maintenance.

Greencoat Renewables is funding the purchase with its EUR-380-million credit facility. The capacity of the company's operational wind portfolio has increased to 476 MW with the latest deal.

(EUR 1.0 = USD 1.084)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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