StockMarketWire.com - Renewable infrastructure company Greencoat Renewables said Monday it had agreed to acquire the Monaincha and Garranereagh wind farms in Ireland from BlackRock for €88m.

Monaincha wind farm, located in County Tipperary, included 15 Nordex N117 turbines with a total capacity of 36MW, the company said. It was commissioned in September 2014 and benefitted from the REFIT 2 tariff until September 2029.

Garranereagh wind farm, located in County Cork, included 4 Enercon E82 turbines with a total capacity of 9.2MW. It was commissioned in September 2013 and benefitted from the REFIT 1 tariff until December 2027.

The transaction was expected to close by the end of December 2018. 'We are very pleased with the transaction, and to be adding significant capacity to our portfolio as well as deepening our relationship with BlackRock. In Monaincha and Garranereagh, BlackRock has developed two high-quality assets, both benefitting from high load factors, and a long REFIT life extending to the end of the 2020s,' said Bertrand Gautier, Partner at Greencoat Capital, the Investment Manager.

At 8:23am: [LON:GRP] Greencoat Renewables Plc share price was +0p at 1.05p



Story provided by StockMarketWire.com