LONDON (ShareCast) - (Sharecast News) - Ireland-focussed renewable infrastructure company Greencoat Renewables has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal, for a consideration of €10.5m (£8.99m), it announced on Wednesday.
The AIM-traded firm said the purchase brought its portfolio of operational wind assets to 461MW.

It said the wind farm consists of eight Vestas V66 turbines that had been operational since November 2006.

Vestas would continue to manage the operations and maintenance contract.

The acquisition was being funded by the company's €380m credit facility, and following the acquisition, the firm's total borrowings would be 48% of gross asset value.

"We are pleased to announce the acquisition of Beam Hill Wind Farm, adding another high-quality wind asset to our portfolio," said investment manager Bertrand Gautier.

"Beam Hill represents our first merchant wind farm acquisition and will allow Greencoat Renewables to explore different contracted power price structures, including the emerging corporate power purchase agreement market in Ireland."

At 0921 GMT, shares in Greencoat Renewables were up 0.32% in London, at €1.16.

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