Greencoat Renewables announces acquisition of 48 MW wind project in Ireland
Greencoat Renewables PLC has announced the acquisition of Ballybane, a 48.3 MW wind farm situated in County Cork. The wind farm was acquired from an independent local developer for a total consideration of EUR61.3 million (US$69.81 million).
Ballybane wind farm consists of 21 Enercon E70 turbines with a net generating capacity of 48.3 MW. The wind farm was constructed in three phases, all of which qualify for the REFIT tariff:
- Phase 1: 13 turbines contracted under the REFIT 1 scheme until 2023
- Phase 2: 6 turbines contracted under the REFIT 2 scheme until 2030
- Phase 3: 2 turbines contracted under the REFIT 2 scheme until 2032
The acquisition was funded by the company’s EUR250 million (US$285.0 million) credit facility. It brings Greencoat Renewables’ portfolio of operational wind farms to 251 MW capacity.
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