Ireland-focused Greencoat Renewables adds 14.0MW wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company, has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5m. 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. GRP notes the acquisition is being funded by its €380m credit facility. Post acquisition, total borrowings represent 48% of the company’s gross asset value.
GRP’s manager, Bertrand Gautier, notes: “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”.
GRP: Ireland-focused Greencoat Renewables adds 14.0MW wind farm