Ireland focussed infrastructure investor Greencoat Renewables Plc (LON:GRP) has announced the acquisition of the Killala community wind farm in County Mayo.
Killala presently comprises five Siemens 3.4 megawatt turbines with a sixth being constructed to bring installed capacity to 20.4MW.
Greencoat Renewables is paying €37.2mln with further contingent funds payable as the final turbine starts operations.
The AIM-listed group noted that the revenues from the project are contracted under the REFIT 2 scheme which guarantees a minimum floor price of electricity until 2032.
"We are pleased to announce the acquisition of Killala, adding another high-quality wind asset with long-term contracted revenues,” said Paul O’Donnell, Greencoat Renewable investment manager.
“This is our first acquisition of a community windfarm and we are delighted that the local community will be sharing in the value created."