Greencoat Renewables to buy 20-MW Irish wind farm from Glennmont

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

September 11 (Renewables Now) - Greencoat Renewables Plc (LON:GRP) said today it has signed a deal to buy the 20-MW Gortahile wind farm in County Laois, Ireland, from Glennmont Partners.

The Irish renewable infrastructure company said it will finance the transaction with funds from its EUR-380-million (USD 417.8m) credit line, but did not disclose the value of the deal. Closing is scheduled for September 18, 2019.

The Gortahile plant comprises eight Nordex N90 turbines that have been generating power since 2010. The wind park’s revenues are contracted under the REFIT 1 scheme. Germany’s Nordex will continue to manage the facility following the sale.

Greencoat noted that this purchase increases the total installed capacity of the company to 431 MW.

(EUR 1.0 = USD 1.099)

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