Octopus Renewables enters deal to acquire 250 MW Irish solar portfolio from Statkraft
Octopus Renewables Infrastructure Trust PLC has entered a deal with Statkraft Ireland Ltd. to acquire a 250 MW solar portfolio that consists of five photovoltaic projects for about EUR145 million (US$171.20 million).
The projects are located near Dublin with four solar farms expected to be operational by the second half of 2022 and the fifth PV project, with a capacity of about 50 MW, will be purchased as a construction-ready project on or after completion of the acquisition once it has secured a Renewable Electricity Support Scheme (RESS) Contract for Difference (CfD). The four projects have secured fixed-price revenues under a CfD from the RESS-1 auction until 2037.
Octopus Renewables will finance the acquisition via a fully amortizing debt facility of up to EUR88 million (US$103.91 million) from Allied Irish Banks plc and La Banque Postale.
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