REG - Greencoat Renewables - South Meath Solar Farm Acquired with Long Term PPA

Greencoat RenewablesAnnouncement

07/08/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240807:nRSG4481Za&default-theme=true

RNS Number : 4481Z  Greencoat Renewables PLC  07 August 2024

 

Greencoat Renewables PLC

 

South Meath Solar Farm acquired with Long Term PPA

 

Dublin, London, 7 August 2024: Greencoat Renewables PLC ("Greencoat
Renewables" or the "Company"), announces it has completed the acquisition of a
50% stake in the 80.5MWp South Meath Solar Farm in County Meath, Ireland, from
Statkraft. The transaction has been completed in partnership with funds
managed by the Investment Manager, Schroders Greencoat LLP, who have acquired
the remaining 50% stake.

 

A leading technology company has entered into a long-term PPA relating to 100%
of the production of the solar farm, providing Greencoat Renewables with
secure, long term cashflow. The agreement underpins the critical role that
renewables have to play in powering the global acceleration of the technology
sector.

 

Paul O'Donnell, Partner at Schroders Greencoat LLP, the Investment Manager,
said:

 

"Having entered into a forward sale agreement in July 2022, we are pleased to
further diversify our portfolio through the completion of the acquisition of
the South Meath solar farm from Statkraft, a key strategic partner.

 

As the largest operator of wind assets in Ireland, we remain focused on
delivering PPAs with large, highly reputable counterparties. As such, we are
delighted to have signed a long-term agreement with one of the world's leading
technology companies as part of this transaction."

 

--- ENDS ---

                For further information, please contact:

 

 Schroders Greencoat LLP (Investment Manager)
 Bertrand Gautier                                                   +44 20 7832 9400

 Paul O'Donnell

 John Musk

 FTI Consulting (Investor Relations & Media)
 Melanie Farrell                                                    +353 1 765 0883
 Aoife Mullen                                                       greencoat@fticonsulting.com (mailto:greencoat@fticonsulting.com)

 Barclays Bank PLC (Joint Broker)

 Dion Di Miceli                                                     +44 20 7623 2323

 Stuart Muress

 James Atkinson

 Davy (Broker, NOMAD and Euronext Growth Listing Sponsor)

 Brian Garrahy

 Ronan Veale                                                        +353 1 679 6363

 RBC Capital Markets (Joint Broker)                                 +44 20 7653 4000

 Matthew Coakes

 Elizabeth Evans

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQPFMPTMTIMBTI