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Greencoat Renewables acquires Glencarbry windfarm in Tipperary
Glencarbry windfarm, Co Tipperary. Image: Greencoat Renewables
The investor has purchased the onshore windfarm from infrastructure company John Laing for an undisclosed sum.
Greencoat Renewables has announced its latest in a series of acquisitions today (1 April). The Dublin-based renewable infrastructure company has invested an undisclosed sum in 35.6MW of Co Tipperary’s Glencarbry windfarm, which is owned by John Laing Group.
Glencarbry has 12 onshore turbines that have been in operation since July 2017. The turbines are owned by German manufacturer Nordex, which will continue to manage their operations and maintenance under the new contract. This is as per its 15-year term, which was agreed when John Laing bought the windfarm from Ecopower in 2015.
The company is understood to have paid around €70m for the wind farm.
The wind farm is made up of 12 Nordex turbines that have been operational since July 2017.
The wind farm s revenues are contracted under the renewable energy feed-in tariff (REFIT 2) scheme, which provides a long-term guaranteed minimum floor price for the electricity generated until the middle of 2032.
A government initiative, the REFIT schemes provided certainty to renewable electricity generators by providing them with a minimum price for each unit of electricity exported to the grid over a 15 year period.
Nordex will continue to manage the operations and maintenance contract.