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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”.

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