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On 18 July 2022, Greencoat Renewables PLC announced an agreement to acquire a 50% stake in the 80.5MWp South Meath Solar Farm from Statkraft. The remaining 50% will be acquired by a pension fund via a fund managed by Greencoat Capital LLP. The transaction for this asset, currently under construction in County Meath, Ireland with commercial operations expected in Q4 2023, will only complete once the solar farm is fully operational.
| Date | 18 Jul 2022 |
| Time | 14:00:04 |
| Category | Acquisitions and alliances |
| ID | 8437S |
Greencoat Renewables announces first solar transaction in Ireland
Agreement to acquire 80.5MWp solar farm from Statkraft
Dublin, London, 18 July 2022 | Greencoat Renewables PLC ("Greencoat Renewables"), the renewable infrastructure company invested in euro-denominated assets, is pleased to announce the agreement to acquire the South Meath Solar Farm from Statkraft, one of the leading renewable energy developers in the Republic of Ireland. Greencoat Renewables will acquire a 50% stake in the asset with the remaining 50% being acquired in partnership with a pension fund, investing through a fund also managed by Greencoat Capital LLP.
The 80.5MWp asset is currently under construction in County Meath, Ireland, with commencement of commercial operations expected in Q4 2023. The transaction is structured under a forward sale model and will only complete once the solar farm is fully operational.
Statkraft will finance and manage the construction of the solar farm and will continue to provide management services once operational.
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For further details contact:
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Greencoat Capital LLP (Investment Manager) |
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Bertrand Gautier Paul O'Donnell Tom Rayner
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+44 20 7832 9400
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FTI Consulting (Investor Relations & Media) |
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Melanie Farrell |
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+353 86 401 5250 |
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Orla Cox |
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Davy (Broker, NOMAD and Euronext Listing Sponsor) Barry Murphy Ronan Veale |
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+353 1 679 6363 |
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RBC Capital Markets (Joint Broker) Matthew Coakes Elizabeth Evans |
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+44 20 7653 4000 |
About Greencoat Renewables PLC
Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets. Initially focused solely on the acquisition and management of operating wind farms in Ireland, the Company is now also investing in wind and solar assets in certain other European countries with stable and robust renewable energy frameworks. It is managed by Greencoat Capital LLP, an experienced investment manager in the listed renewable energy infrastructure sector.
For more information about Greencoat Renewables PLC, please visit http://www.greencoat-renewables.com/