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Greencoat Renewables PLC - Dublin-based investor in euro-denominated renewable energy infrastructure assets - Buys Tullahennel wind farm from funds managed by affiliates of New York-based investment firm Apollo Global Management Inc.
The acquisition is funded by its existing credit facility. After completion, the firm's total borrowings will represent 43% of gross asset value.
Says the farm is located in County Kerry, Ireland and consists of 13 General Electric Co 2.9 megawatt turbines that have been operational since September 2018. Says GE will continue to manage the operations and maintenance contract.
Notes that the wind farm's revenue is contracted under the Renewable Energy Feed-in Tariff 2 scheme.
Current stock price: EUR1.16, down 0.2% on Wednesday
12-month change: down 2.1%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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