11 September 2018
McCann FitzGerald advises Coillte on Sale of Wind Farm Assets to Greencoat Renewables plc
We advised Coillte on the sale of its operating wind farm assets to Greencoat Renewables plc for an Enterprise Value of €281 million or an equity price of €136.1m.
The asset sale comprises Coillte’s 50pc stake in each of its joint venture wind farms at Raheenleagh, Cloosh Valley and Castlepook and a 25pc stake in Sliabh Bawn. In total the assets represent a net operating capacity of 105.1MW on an equity basis. Coillte has retained ownership of the land on which the wind farms are situated which will provide significant ongoing income for the company.
This sale supports Coillte’s future plans to continue to develop a pipeline of future renewable energy projects with a strategic partner, while retaining ownership of the underlying land.