Investor Greencoat Renewables has agreed to acquire two wind farms in Ireland totalling 45MW in a deal worth €88m.
The company will close the acquisition later this month with BlackRock Real Assets for the 36MW Monaincha in County Tipperary and 9.2MW Garranereagh in County Cork.
The former project features 15 Nordex N117 turbines and was commissioned in 2014, while the latter comprises Enercon E-82 units and was brought online in 2013.
Bertrand Gautier, partner at investment manager Greencoat Capital, said: “We are very pleased with the transaction, and to be adding significant capacity to our portfolio as well as deepening our relationship with BlackRock.
“In Monaincha and Garranereagh, BlackRock has developed two high-quality assets, both benefitting from high load factors, and a long Refit life extending to the end of the 2020s.”
BlackRock heads of European renewables Rory O’Connor said: “We are delighted to partner with Greencoat Renewables on this Irish wind transaction.
“This portfolio is testament to BlackRock’s strong investment, partnering and technical capability in renewable power.”
He added: “We are very pleased with this sale and the realisation of value from this portfolio for our clients, and we will continue the strategy of selected realisations over time.”