Renewable energy investor Greencoat Renewables has announced a deal to buy 50% of Carrickallen, a 20.5MW wind farm situated in Co Cavan. 

The acquisition brings Greencoat Renewables' portfolio of operational wind assets to an aggregate capacity of 538MW.  

The remaining 50% of the wind farm will continue to be owned by the Galetech Group, an Irish wind energy developer. 

Carrickallen wind farm consists of ten Senvion MM92 turbines that have been operational since January 2019. 

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

The acquisition is being funded by the Greencoat's existing credit facility.

Siemens will continue to manage the operations and maintenance contract, the company added.