Neoen completes acquisition of 53.4 MW of wind projects in Ireland
Neoen has announced the acquisition of eight wind farms in operation in Ireland, with a total capacity of 53.4 MW. Neoen is acquiring full ownership of these assets, which were previously owned by the Irish Infrastructure Fund, co-managed by AMP Capital and Irish Life Investment Managers, and Energia Group, which held a minority stake, for a total amount of EUR25.8 million (US$29 million) settled in cash. This represents an enterprise value in the range of EUR46 million (US$51 million).
The wind farms were commissioned between 1998 and 2012. They are situated at eight high-quality locations possessing very attractive wind resources. The electricity generated by these assets is currently sold under power purchase agreements. As these contractual commitments gradually expire over the coming years, Neoen will be able to negotiate fresh commercial arrangements, leveraging its considerable expertise in this area.
Furthermore, Neoen believes that there will be a promising repowering potential for the oldest of these assets, in order to better tap the wind resources.
Country updates
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June 10, 2019
Gore Street Energy fund agrees to acquire 51% stakes in a 160 MW energy storage portfolio
Gore Street Energy Storage Fund plc has agreed to acquire a 51% interest in a 160 MW portfolio of energy storage projects in Northern Ireland and the Republic of Ireland. The fund needs about GBP77 m...
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June 06, 2019
DIF completes acquisition of 69 MW Dublin waste-to-energy project
DIF, through its most recent fund DIF Infrastructure V, has announced that it has closed the acquisition of a stake in the Dublin Waste to Energy PPP project. The project is an operational waste to en...
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May 21, 2019
RES closes sale of 25 MW wind project in Ireland
RES has announced that the completion of the sale of its first subsidy-free project, Craiggore Wind Farm, in Northern Ireland to ERG UK Holding Ltd, a company owned by ERG. The 10-turbine wind farm l...
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May 15, 2019
EU Commission approves DIF, GIG and Covanta's joint control over 69 MW waste-to-energy facility in Dublin
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over Covanta Europe Assets Limited (the Dublin Waste-to-Energy Facility) of Ireland by D...
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May 02, 2019
Innogy starts operations of 10.2 MW wind farm in Ireland
Innogy has announced that it has completed construction of the 10.2 MW Dromadda Beg onshore wind farm. Located in County Kerry, south-west Ireland, the wind farm's three turbines have started operatio...
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