Brookfield Reaches Financial Close on Two Irish Wind farms

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Brookfield Reaches Financial Close on Two Irish Wind farms

Mitsubishi UFJ Financial Group (MUFG) recently supported Brookfield Renewable in its EUR 88 million financing of a portfolio of two onshore wind farms in Ireland. The transaction adds to Brookfield's growing European renewable platform with 1,018 MW of operating capacity.

MUFG acted as Mandated Lead Arranger, Hedge Provider and Security and Facility Agent for the transaction. The financing of this greenfield project demonstrates MUFG's commitment to Ireland.

Alongside MUFG, senior financing was provided SMBC and Export Development Canada.

Brookfield Renewable, a highly experience owner, operator and developer in the Irish renewable market, has been developing this 47 MW portfolio since August 2016.

The portfolio consists of Slievecallan East project (27.5MW) using Nordex 2.5 MW turbines and Ballyhoura wind farm (19.2MW) using Siemens 3.2 MW turbines.

Completion of Slievecallan and Ballyhoura is expected by the end of the first quarter of 2018. Both wind farms will be eligible to receive the Renewable Energy Feed in Tariff 2, which ensures an index-linked, price certain tariff (currently c. €80/MWh) for a maximum period of 15 years post construction.

Carol Gould, Managing Director, Head of Power & Renewables Structured Finance team in EMEA, said:

“The combined output from these two wind farms will generate power for approximately 23,000 homes annually. This strategic transaction builds on the significant track record that we've built up in financing wind farms. We're delighted to have participated to this transaction in the Irish market and are looking forward to playing a role in the financing of similar opportunities in the coming years."
List of country news

Country news

  • October 17, 2017

    ABO Wind receives €160 million loan for wind projects in Finland

    HSH Nordbank is providing ABO Wind AG with long-term loans totaling approximately €160 million for the financing of two wind parks in Finland and a project in Ireland.

    Read more
  • September 07, 2017

    Mainstream changes its senior management mtructure

    Mainstream Renewable Power is making a number of changes to its senior management structure. Under the new structure, Mr Kinsella will take on responsibility for the running of the Group, its strategy and direction.

    Read more
  • August 23, 2017

    Innogy buys 10.2-MW Irish wind project

    Innogy  has acquired its first onshore wind-power project in Ireland, with the purchase of the 10.2 megawatts Dromadda Beg wind farm.

    Read more
  • August 08, 2017

    Sojitz-led Japanese group buys Irish wind projects

    Sojitz Corporation has announced it has concluded a stock purchase agreement through subsidiary ShaMrocK Wind Limited —a joint venture established in UK with Mitsubishi UFJ Lease & Finance Limited and several Kansai Electric Power subsidiaries—to acquire a 60% stake in Evalair Limited, through which Sojitz will take on operation of a wind power plant in Ireland.

    Read more
  • March 22, 2017

    NTR raises €50m project financing from Nord/LB for two Irish wind projects

    NTR has announced that it has successfully closed two project debt facilities back-to-back in a matter of weeks with Nord/LB totalling €50 million (US$54 million) 

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.