DUBLIN, IRELAND: Greencoat Renewables, the renewable infrastructure firm invested in euro-denominated assets, has acquired the 21MW Soliedra wind farm from Alfanar Global Development. The deal represents the company’s second renewables transaction in Spain.
The wind farm is found in Soria, within the area of Castilla y Leon, Spain and consists of six GE- 137 generators which have been operational since May 2021. GE will proceed to present lengthy run operations and upkeep services.
Soliedra wind farm is currently contracted as a service provider asset however has the flexibility sooner or later to contract the electrical energy produced via a firm PPA.
Following the acquisition, Greencoat Renewables’ total borrowings will represent 40% of Gross Asset Value.
The transaction is in line with Greencoat Renewables’ European growth technique and follows the Company’s expansion into France, Finland, Germany and Sweden.
Paul O’Donnell, Partner at Greencoat Capital, the Investment Manager, said: “We are delighted to safe such a high-quality asset from Alfanar and have sight of additional value-accretive alternatives in Spain.
As the renewable generation market continues to develop, we expect to see greater alternative within the unsubsidised renewables market and believe Greencoat Renewables is well positioned to profit each throughout mainland Europe and in Ireland.”
Jamal Wadi, Managing Director, Alfanar Global Development, said: “We have been in Spain for a few years now and are dedicated to its energy transition. This deal marks one other milestone in our ambitious plans for the European markets.”
www.greencoat-renewables.com