2017-10-23
http://w3.windfair.net/wind-energy/pr/24556-ireland-renewable-energy-wind-farm-mw-capacity-onshore

Launch of Greencoat Renewables with acquisition of 137 MW of wind capacity in Ireland

Irish renewable energy investment firm being supported by AIB p.l.c. and ISIF

Image: NASAImage: NASA

Greencoat Renewables DAC, a new, wholly-owned Irish subsidiary of Greencoat Capital LLP, today announces that it has agreed to purchase the Knockacummer and Killhills wind farms in Ireland from Brookfield Renewable Ireland, comprising 137 MW of operating capacity. The seed capital for Greencoat Renewables is being provided by Allied Irish Banks p.l.c. (AIB) and the Ireland Strategic Investment Fund (ISIF).

Greencoat Renewables intends to raise further long-term capital, over time, to build a leading portfolio of operating renewable energy assets in Ireland with the objective of delivering a progressive income stream to investors.

Greencoat Renewables is managed by Greencoat Capital LLP, a leading European renewable investment manager with over €1.7 billion of equity under management across a number of funds in wind infrastructure, solar infrastructure and private equity.

In 2013, Greencoat Capital LLP launched the UK's first listed renewable infrastructure platform with the establishment and listing of Greencoat UK Wind PLC on the London Stock Exchange. Greencoat UK Wind PLC has since grown to comprise £900 million of operating assets and has delivered strong returns to investors. In addition, the company has facilitated the recycling of significant capital into the development and construction of new energy assets in the UK thereby supporting an increase of wind energy capacity in a highly efficient manner.

Brookfield has significantly invested in the build out of Knockacummer and Killhills wind farms over the past three years and remains committed to Ireland with over 350 MW of operating wind capacity. Further, it has over 60 MW currently in construction and a development pipeline of more than 200 MW.

Paul O'Donnell, Partner, Greencoat Capital, said: "We are delighted to have secured this strong seed portfolio. Ireland is an attractive market in which to generate renewable energy from wind, given its strong wind resource and long established regulatory backdrop. We look forward to building upon the infrastructure success we have had in the UK, now with an Irish focus."

Eugene O'Callaghan, Director of ISIF, said: "Having pioneered the UK's listed renewableinfrastructure sector, Greencoat has a proven track record in sourcing and investing new long-term capital into the renewable energy sector. ISIF is pleased to be an early stage investor in a business that offers similar potential for Ireland and enables the country's continued transition to a low carbon economy."

Colin Hunt, Managing Director of AIB Wholesale Institutional & Corporate Banking, said: "AIB is pleased to support Greencoat Renewables with our wind energy financing expertise. AIB is committed to backing investment into the Irish renewable energy sector and assisting the country in its transition to a low carbon economy. We look forward to developing our relationship with Greencoat and supporting their plans to grow a leading infrastructure investor in Ireland." 

Source:
Greencoat
Author:
Press Office
Link:
www.greencoat-capital.com
Keywords:
Ireland, renewable energy, wind farm, MW, capacity, onshore





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