Renewables investor Impax Asset Management has sold its 51% stake in the 24.2MW Ballycadden wind farm in Wexford to the Toronto-based Greystone Infrastructure Fund.
In a deal announced this morning, Greystone, one of Canada’s largest institutional money managers, will join a group of minority shareholders on the project.
Commissioned in 2013, a mix of 2.3MW and 3MW Enercon E-82 machines are spinning on the 9-turbine Wexford site.
The acquisition by Greystone is its first renewables investment in Europe with the company aiming to expand its interest across the continent.
“We are very pleased to be adding this investment to our infrastructure portfolio and are actively pursuing other ?high quality assets in Ireland and across Europe on behalf of our investors,” said Jeff Mouland, Head of the Greystone Infrastructure Fund.
“We look forward to managing the Ballycadden business with our shareholder partners.”
Ryan Cameron, a director at Impax, said: “Impax has enjoyed its working relationship with the incumbent minority shareholders and is pleased to pass on a high performing wind farm to Greystone.
“Impax is currently constructing a number of projects in Ireland and remains committed to developing and building out its project pipeline throughout the period to 2020 and beyond.”
The terms of the deal were not disclosed.
Image: E-82 turbine (Enercon)
Impax sells Irish wind stake
Offloads 51% holding in 24.2MW Ballycadden farm to Canada's Greystone
By EBS