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Kilmaley windfarm purchased for €35m

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A Kilmaley windfarm has been purchased for €35.4m.

Renewable energy investor, Greencoat Renewables acquired Letteragh Wind Farm which brings its wind assets portfolio to 476MW. The purchase is being funded from an existing €380m credit facility.

Operational since last December, the 14.1MW windfarm consists of six Enercon E92 turbines. Its revenues are guaranteed by the State’s Renewable Energy Feed-in Tariff 2 scheme which provides long term guaranteed minimum floor price for the electricity generated until 2032.

Paul O’Donnell, Greencoat’s Investment Manager, said the Letteragh Wind Farm will add another high-quality wind asset with long-term contracted revenues to its portfolio. “We will continue to work with both international and local developers, providing them with an opportunity to recycle capital into new projects, while enabling us to drive long-term value for our shareholders”.

Páraic McMahon is Head of News & Sport with The Clare Echo. The Newmarket-on-Fergus native also writes for national papers including The Irish Examiner, The Irish Independent and The Irish Times along with doing work for RTÉ, Today FM, TheJournal.ie and The42.ie. A graduate of Mary Immaculate College, Páraic was previously employed by The Clare Herald and Clare FM. If you have a story, tip or some feedback for him then send an email to - paraic@clareecho.ie

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