Renewable energy investor Greencoat Renewables has bought a Co Kerry windfarm from funds managed by affiliates of Apollo Global Management.
The Tullahennel windfarm in Co Kerry consists of 13 GE 2.85MW turbines that have been operational since September 2018.
The windfarm's revenues are contracted under the REFIT 2 scheme, providing a long-term guaranteed minimum floor price for the electricity generated until December 2032.
GE will continue to manage the operations and maintenance contract.
Greencoat said the deal is being funded by the company's existing credit facility.
Paul O'Donnell, Investment Manager, said the company was pleased to continue consolidating the Irish renewable energy market with the acquisition of another high-quality asset with long-term contracted revenues.
"We are encouraged by the range of attractive opportunities that exist, both in Ireland and the wider European market and are focused on building the premier European renewable energy portfolio which offers strong secure long-term income for shareholders," Mr O'Donnell added.
