Renewable energy firm to buy Knocknagoshel wind farm

A renewable energy firm is to buy a Knocknagoshel wind farm.

Greencoat is buying Dromadda More, a 36MW wind farm from Impax Asset Management for a total consideration of €88.4 million.

Greencoat is to put in place a new €250 million revolving credit facility (RCF) with a syndicate of five banks.

This will be used to re-finance existing project finance debt, as well as fund new acquisitions including the Dromadda More wind farm.

Greencoat, Ireland’s first stock market-listed renewable energy firm, says the Kerry wind farm is an excellent addition to their seed portfolio, and underpins the growth opportunity in the Irish onshore wind market.