LONDON (Alliance News) - Greencoat Renewables PLC on Monday said it agreed to acquire the Monaincha and Garranereagh wind farms in Ireland for EUR88 million.
The Monaincha wind farm is located in County Tipperary. It consists of 15 Nordex N117 turbines with a total capacity of 36 megawatts. The Garranereagh wind farm is located in County Cork. It consists of 4 Enercon E82 turbines with a total capacity of 9.2 megawatts.
The Irish renewable infrastructure company said it will buy the two wind farms from BlackRock Real Assets and expects to complete the transaction at the end of December.
The acquisitions will be funded using Greencoat Renewables' increased revolving credit facility of EUR380 million.
"We are very pleased with the transaction, and to be adding significant capacity to our portfolio as well as deepening our relationship with BlackRock," said Investment Manager Bertrand Gautier.
Greencoat Renewables shares were untraded on Monday, last quoted at EUR1.05 each.
Greencoat Renewables (GRP)