Published On: Thu, Jul 9th, 2020

Carrickallen Wind Farm : Greencoat Renewables acquires stake from Galetech

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Greencoat Renewables, an Irish renewable investment company, has acquired a 50% stake in the operating 20.5MW Carrickallen Wind Farm in County Cavan, Ireland from Galetech Group for an undisclosed price.

Galetech Group, which is an Irish wind developer, will hold the remaining 50% stake in the Carrickallen wind project, which was commissioned in January 2019.

The acquisition takes the operational wind capacity of Greencoat Renewables’ portfolio to 538MW.

Comprising 10 Senvion MM92 turbines, the Carrickallen Wind Farm makes revenues under the REFIT 2 scheme, which offers it a long-term guaranteed minimum floor price for the power it generates until 2032.

Siemens Gamesa, which acquired the European assets of Senvion earlier this year, will continue to take care of the operations and maintenance contract pertaining to the Carrickallen wind project.

Commenting on the investment in the Carrickallen Wind Farm, Paul O’Donnell – Greencoat Renewables Investment Manager said: “We are pleased to announce our investment into Carrickallen wind farm, adding another high-quality wind asset with long-term contracted revenues.

“We were delighted to partner with Galetech and continue to see a strong pipeline of opportunities both in Ireland and the continent”.

Greencoat Renewables acquires 50% stake in Carrickallen Wind Farm from Galetech Group.

Greencoat Renewables acquires 50% stake in Carrickallen Wind Farm from Galetech Group. Photo courtesy of Pexels from Pixabay.

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