Windfarm operator, Greencoat Renewables, has announced that it has acquired a 9.2 mega watt wind farm situated in Co Wexford.
The wind farm, located at Knocknalour, was bought for a total enterprise value of €10.9m from a group of local developers
Knocknalour wind farm consists of four Enercon E70 turbines. The wind farm was commissioned in September 2013 and its revenues are contracted under the REFIT scheme, providing a long term guaranteed minimum floorprice for the electricity generated. Following the acquisition, Enercon will continue to manage the wind farm's O&M contract.
The acquisition was funded by Greencoat Renewables €250m credit facility. Following the acquisition, Greencoat Renewables total borrowings will be 21% of Gross Asset Value, which excludes consideration of the Coillte acquisition which is expected to close during November 2018.