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Greencoat Renewables acquires Cnoc Wind Farm; signs new 5-year term loan
StockMarketWire.com
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Renewable infrastructure company Greencoat Renewables said it acquired Cnoc Wind Farm and closed a new €200 million 5-year term.
The 11.5MW Cnoc Wind Farm, located in County Tipperary, Ireland, consisted of 5 Enercon E70 turbines that had been operational since March 2018, and would increase the company's generation capacity to 550MW.
The wind farm's revenues were contracted under the REFIT 2 scheme, providing a long-term guaranteed minimum floor price for the electricity generated until 2032. Enercon would continue to manage the operations and maintenance contract.
'The term Loan will be used to pay down some of the existing revolving credit facility, leaving the RCF drawn at c.€115 million,' it added.
At 10:13am: (LON:GRP) Greencoat Renewables PLC share price was -0p at 1.18p
Story provided by StockMarketWire.com
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