Greencoat Renewables acquires 20.4MW Killala community wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company has announced it has acquired Killala Community Wind Farm, a 20.4MW wind farm situated in County Mayo. The project consists of 5 Siemens 3.4MW turbines that have been operational since July 2019. An additional Siemens 3.4MW turbine is currently under construction which will bring the installed capacity to 20.4MW in Q4 2020.
GRP will pay an initial €37.2m, with further proceeds payable once the final turbine becomes operational. Construction of the additional turbine is being overseen by the existing developers and Siemens will continue to manage the wind farm’s O&M contract.
The company says that the project revenues are contracted under the REFIT 2 scheme, providing a guaranteed minimum floor price for the electricity generated until 2032.
The acquisition is being funded by the company’s €380m credit facility, with post acquisition total borrowings standing at 47% of gross asset value.
GRP: Greencoat Renewables acquires 20.4MW Killala community wind farm