Greencoat Renewables PLC First Solar Transaction in Ireland (8437S)

TIDMGRP

RNS Number : 8437S

Greencoat Renewables PLC

18 July 2022

Greencoat Renewables announces first solar transaction in Ireland

Agreement to acquire 80.5MWp solar farm from Statkraft

Dublin, London, 18 July 2022 | Greencoat Renewables PLC ("Greencoat Renewables"), the renewable infrastructure company invested in euro-denominated assets, is pleased to announce the agreement to acquire the South Meath Solar Farm from Statkraft, one of the leading renewable energy developers in the Republic of Ireland. Greencoat Renewables will acquire a 50% stake in the asset with the remaining 50% being acquired in partnership with a pension fund, investing through a fund also managed by Greencoat Capital LLP.

The 80.5MWp asset is currently under construction in County Meath, Ireland, with commencement of commercial operations expected in Q4 2023. The transaction is structured under a forward sale model and will only complete once the solar farm is fully operational.

Statkraft will finance and manage the construction of the solar farm and will continue to provide management services once operational.

--- 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 Listing Sponsor) 
  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.

For more information about Greencoat Renewables PLC, please visit http://www.greencoat-renewables.com/

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQFLFVLDTITLIF

(END) Dow Jones Newswires

July 18, 2022 09:00 ET (13:00 GMT)

Greencoat Renewables (LSE:GRP)
Historical Stock Chart
From May 2024 to Jun 2024