LONDON (Alliance News) - Greencoat Renewables PLC on Monday said it has bought the Ballybane wind farm located in County Cork, Ireland, for EUR61.3 million.
The renewable infrastructure company said the wind farm consists of 21 Enercon E70 turbines with a net generating capacity of 48.3 megawatts.
The acquisition was in line with Greencoat Renewables' investment policy, it said, and was funded by the company's EUR250 million credit facility.
Following the acquisition, Greencoat Renewables operational portfolio totals 251 megawatts.
"Ballybane is a very attractive asset with significant generating capacity and a high load factor," said investment manager Paul O'Donnell.
"The deal represents our fourth transaction with independent developers in 2018 and further evidences the ongoing opportunity in Ireland's secondary wind market," added O'Donnell.
Shares in Greencoat Renewables were untraded on Monday, last quoted at EUR1.03 each.
Greencoat Renewables (GRP)