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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Greencoat Renewables Plc | LSE:GRP | London | Ordinary Share | IE00BF2NR112 | ORD EUR0.01 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.002 | 0.24% | 0.82 | 0.82 | 0.852 | 0.834 | 0.816 | 0.816 | 256,772 | 16:35:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electric & Other Serv Comb | 510k | 69.49M | 0.0609 | 13.63 | 947.23M |
TIDMGRP
RNS Number : 3950F
Greencoat Renewables PLC
29 October 2018
Greencoat Renewables acquires 48.3MW Ballybane wind farm for EUR61.3 million, bringing its operational portfolio to 251MW
Dublin, London, 29 October 2018 | Greencoat Renewables PLC ("Greencoat Renewables"), the Irish renewable infrastructure company, today announces the acquisition of Ballybane, a 48.3MW wind farm situated in County Cork. The wind farm was acquired from an independent local developer for a total consideration of EUR61.3 million. This brings Greencoat Renewables' portfolio of operational wind farms to 251MW capacity.
Ballybane wind farm consists of 21 Enercon E70 turbines with a net generating capacity of 48.3MW. The wind farm was constructed in three phases, all of which qualify for the REFIT tariff:
-- Phase 1: 13 turbines contracted under the REFIT 1 scheme until 2023 -- Phase 2: 6 turbines contracted under the REFIT 2 scheme until 2030 -- Phase 3: 2 turbines contracted under the REFIT 2 scheme until 2032
The acquisition was in line with Greencoat Renewables' Investment Policy and was funded by the company's EUR250 million credit facility. Following the acquisition, Greencoat Renewables' total borrowings are 31% of Gross Asset Value (excluding consideration of the Coillte acquisition which is expected to close during November 2018).
Paul O'Donnell, Partner at Greencoat Capital, the Investment Manager said: "Ballybane is a very attractive asset with significant generating capacity and a high load factor. The deal represents our fourth transaction with independent developers in 2018, and following the recent Coillte announcement, further evidences the ongoing opportunity in Ireland's secondary wind market."
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For further details contact:
Greencoat Capital LLP (Investment Manager) Bertrand Gautier Paul O' Donnell Tom Rayner +44 20 7832 9400 FTI Consulting (Investor Relations & Media) Jonathan Neilan +353 1 765 0886 Melanie Farrell greencoat@fticonsulting.com Davy Corporate Finance (Broker, NOMAD and ESM Adviser) Fergal Meegan Barry Murphy Ronan Veale +353 1 679 6363 RBC Capital Markets (Joint Broker) Matthew Coakes Jonathan Hardy +44 20 7653 4000
About Greencoat Renewables PLC
Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets, and is focused on the acquisition and management of operating wind farms in Ireland. It is managed by Greencoat Capital LLP, an experienced investment manager in the listed renewable energy infrastructure sector.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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October 29, 2018 03:00 ET (07:00 GMT)
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