Renewable energy investor Greencoat Renewables has completed a deal to buy a 50% stake in the 80.5MWp South Meath solar farm in Co Meath from Statkraft.
The purchase has been completed in partnership with funds managed by investment manager Schroders Greencoat LLP, who have bought the remaining 50% stake.
The company said a "leading technology company" has entered into a long-term power purchase agreement (PPA) for 100% of production of the solar farm, which will provide it with secure, long term cashflow.
It said the deal underpins the critical role that renewable companies have to play in powering the global acceleration of the technology sector.
"Having entered into a forward sale agreement in July 2022, we are pleased to further diversify our portfolio through the completion of the acquisition of the South Meath solar farm from Statkraft, a key strategic partner,". Paul O'Donnell, Partner at Schroders Greencoat LLP, the Investment Manager, said.
"As the largest operator of wind assets in Ireland, we remain focused on delivering PPAs with large, highly reputable counterparties," he added.
