Greencoat Renewables PLC Agreement to Acquire 65MW French Wind Portfolio (5694M)
May 24 2022 - 5:12AM
UK Regulatory
TIDMGRP
RNS Number : 5694M
Greencoat Renewables PLC
24 May 2022
Greencoat Renewables agrees to acquire 65MW onshore wind
portfolio in France
Transaction will bring total installed capacity to 1,079MW
[1]
Dublin, London, 24 May 2022 | Greencoat Renewables PLC
("Greencoat Renewables") announces an agreement to acquire a 65MW
portfolio of operating wind farms in France from Axpo,
Switzerland's largest producer of renewable energy.
The acquisition comprises 4 wind farms, all of which benefit
from French government long-term contracts:
-- The 16MW Arcy-Précy windfarm is located in the Burgundy
region of France and consists of eight Vestas V110 turbines. The
project was commissioned between September 2021 (12MW) and May 2022
(4MW) and benefits from a government fixed-price contract until
August 2041.
-- The 9.4MW Butte de Menonville windfarm is located in the
Centre Val-de-Loire region of France and consists of four Enercon
E92 turbines. The project was commissioned in July 2021 and
benefits from a government fixed-price contract until June
2041.
-- The 20.3MW Genonville windfarm is located in the Centre
Val-de-Loire region of France and consists of six Nordex N117
turbines. The project was commissioned in March 2022 and benefits
from a government fixed-price contract until February 2042.
-- The 19.8MW Grande Pièce windfarm is located in the Centre
Val-de-Loire region of France and consists of six Vestas V112
turbines. The project was commissioned between August 2017 and
October 2018 and benefits from a government fixed-price contract
until August 2032.
The transaction is the Company's second portfolio acquisition in
France, as it continues to execute its European growth strategy and
follows Greencoat Renewables' expansion into Spain, Finland,
Germany, and Sweden.
The transaction is expected to close in Q2 2022.
Bertrand Gautier, Investment Manager said :
"This transaction represents a further milestone in Greencoat
Renewables' strategy to increase our position in the French
renewables market, which provides an opportunity to secure
long-term contracted renewable energy assets. France will now
represent 12% of the Greencoat Renewables portfolio.
We look forward to working further with Axpo, a large owner of
renewable assets in Europe."
--- ENDS ---
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)
Melanie Farrell +353 86 401 5250
Orla Cox greencoat@fticonsulting.com
Davy (Broker, NOMAD and Euronext Growth Adviser)
Barry Murphy
Ronan Veale +353 1 679 6363
RBC Capital Markets (Joint Broker)
Matthew Coakes
Elizabeth Evans +44 20 7653 4000
About Greencoat Renewables PLC
Greencoat Renewables PLC is an investor in euro-denominated
renewable energy infrastructure assets. Initially focused solely on
the acquisition and management of operating wind farms in Ireland ,
the Company is now also investing in wind and solar assets in
certain other European countries with stable and robust renewable
energy frameworks. It is managed by Greencoat Capital LLP, an
experienced investment manager in the listed renewable energy
infrastructure sector.
[1] This includes 156MW related to the 50% acquisition of the
312MW German offshore project known as 'Borkum Riffgrund 1'
announced by the Company on the 4(th) April, which is yet to be
paid and remains subject to regulatory clearance expected around
May 2022.
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END
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