Greencoat Renewables PLC Acquisition of Tullynamoyle 2 Wind Farm (6599J)

TIDMGRP

RNS Number : 6599J

Greencoat Renewables PLC

03 April 2018

Greencoat Renewables PLC

Acquisition of 11.5MW Tullynamoyle 2 Wind Farm for EUR19.3 million

Dublin, London, 3 April 2018: Greencoat Renewables PLC ("GRP") the Irish renewable infrastructure company, today announces the acquisition of Tullynamoyle 2, a 11.5MW wind farm situated in County Leitrim, from a local developer for a total consideration of EUR19.3 million.

Tullynamoyle 2 wind farm consists of five Enercon E70 turbines, and was commissioned in February 2018, thereby benefiting from 15 years of contracted revenues under the REFIT 2 scheme, guaranteeing a minimum floor price for the electricity generated until 2032.

Paul O'Donnell, Partner at Greencoat Capital, the Investment Manager said: "This acquisition is in line with our strategy to partner with both local and international developers while creating long term value for our shareholders. Tullynamoyle 2 is a great asset and another acquisition with very long-term contracted revenues, giving us stability and visibility of income out until 2032.".

The acquisition was funded by GRP's EUR250 million credit facility. Following the completion of Tullynamoyle 2 and the closing of Dromadda More, GRP total borrowings will be 44% of Gross Asset Value.

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For further details contact:

 
Greencoat Capital LLP (Investment Manager) 
Bertrand Gautier 
 Paul O' Donnell                                              +44 20 7832 9400 
Tom Rayner 
 
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 company news service from the London Stock Exchange

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