Greencoat Renewables acquires Knocknalour wind farm

AIM-listed energy outfit Greencoat Renewables has acquired the Knocknalour wind farm in County Wexford for a total of €10.9m.

Greencoat funded the acquisition of the 9.2MW wind farm, made up of four Enercon E70 turbines, from its €250m credit facility, taking the group's total borrowings to 21% of its gross asset value.

The renewable infrastructure group told investors on Friday that the wind farm's revenues would provide a "long-term guaranteed minimum floor price" for the electricity generated.

Enercon will continue to manage the wind farm's O&M contract.

As of 0820 BST, Greencoat shares had dipped 0.94% to €1.04 each.