Greencoat Renewables has bought Glencarbry Wind Farm in County Tipperary from the John Laing Group for an undisclosed sum.
The wind farm consists of 12 Nordex turbines that have been operational since July 2017.
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 July 2032.
Nordex will continue to manage the operations and maintenance contract.
The acquisition is being funded by the company's existing credit facility.
Following the acquisition, Greencoat Renewables’ total borrowings will represent 49% of Gross Asset Value, in the middle of the company’s target gearing range.
Including the previously announced acquisition of Cordal wind farm which has now completed, Greencoat Renewables’ total installed generating capacity has increased to 685.6MW.
Paul O'Donnell, Investment Manager at Greencoat Renewables said they are pleased to have closed their second transaction with John Laing.
"We continue to see a range of attractive opportunities, both in Ireland and the wider European market," he said.
