Greencoat Renewables adds Co Clare wind farm to portfolio

 

Renewable energy investor Greencoat Renewables has bought Letteragh Wind Farm, a 14.1MW wind farm in Co Clare for €35.4m.  Greencoat Renewables said this brings its portfolio of operational wind assets to 476MW. 

The wind farm consists of six Enercon E92 turbines that have been operational since last December. 

The wind farm's revenues are contracted under the REFIT 2 scheme, which provides a long-term guaranteed minimum floor price for the electricity generated until 2032. 

Enercon will continue to manage the operations and maintenance contract.

Greencoat said the deal is being funded by its €380m credit facility.

Paul O'Donnell, Greencoat's Investment Manager, said the Letteragh Wind Farm will add another high-quality wind asset with long-term contracted revenues to its portfolio. 

"We will continue to work with both international and local developers, providing them with an opportunity to recycle capital into new projects, while enabling us to drive long-term value for our shareholders," Mr O'Donnell said.