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Greencoat Renewables calls EGM to consider new investment policy

Greencoat Renewables GRP Monaincha wind farm

Greencoat Renewables calls EGM to consider new investment policy – Greencoat Renewables (GRP) has called an extraordinary general meeting, to be held next month, to consider proposed amendments to its investment policy.

The amendments include adding Spain and Portugal to its definition of ‘other relevant countries’ and to clarify that investments in assets under construction or complementary to the roll-out of renewable energy generation up to 10% of gross asset value can be made in Ireland in addition to the other relevant countries.

As noted in GRP’s 2020 annual report, it has been conducting investigations of investments in Iberian markets, which have seen positive developments in recent years and where subsidy free renewable infrastructure development continues to see significant growth.

The trust has been exploring opportunities in Spain and Portugal and has an active near term pipeline. The additional jurisdictions of Spain and Portugal would provide GRP with the benefit of a larger pool of potential acquisition targets and facilitate the group’s diversification opportunities as it continues its expansion into Europe. Greencoat Capital has relationships with many of the key utilities and developers across the Iberia regions, providing GRP with access to a wide range of opportunities complimentary to its wider European strategy.

The EGM will be held at Davy House, 49 Dawson Street, Dublin 2, Ireland on 17 September 2021 at 10.00am. There will likely be very limited ability to attend the EGM in person and so the company is asking shareholders to submit their form of proxy to ensure they can vote and be represented at the EGM.

In the event that it is not possible to hold the EGM either in compliance with public health guidelines or applicable law or where it is otherwise considered that proceeding with the EGM as planned poses an unacceptable health and safety risk, the EGM may be adjourned or postponed or relocated to a different time and/or venue, in which case notification of such adjournment or postponement or relocation will be given in accordance with applicable law.

GRP : Greencoat Renewables calls EGM to consider new investment policy

1 thought on “Greencoat Renewables calls EGM to consider new investment policy”

  1. The Spanish government have a record of reneging on their subsidy promises greatly damaging small investors investments . Athough I am in favour of bradening GRWP Oopportunities I woud avid making any deal with Spain..

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