Greencoat concludes acquisition of 38 MW Cloghan Wind Farm project in County Offaly

Greencoat Renewables has finalized the acquisition of the 38 MW Cloghan Wind Farm project in County Offaly, Ireland. It had been acquired under a forward sale commitment from Statkraft in December 2020. It was developed by Statkraft and benefits from a 15-year fixed-price contract secured through the RESS 1 auction until 2037.

With the acquisition of the Cloghan Wind Farm, the total borrowings of Greencoat Renewables have risen to 47% of its gross asset value.

Statkraft will continue to offer trading and operational management services for the wind farm. With a growing appetite for eco-friendly solutions, Greencoat's acquisition is a positive step forward in addressing the energy needs of the country.