BlackRock has acquired two operational wind farms in Ireland from GE Energy Financial Services.
The Investment giant said today that a fund managed by BlackRock Real Assets has agreed the deal to secure the 17MW Acres and 34MW Barranafaddock wind farms in Donegal and Waterford respectively.
Both projects feature GE 2.85-103 turbines and were commissioned in 2015 with 15-year power purchase agreements in place.
The projects were acquired in 2014 by GE after being developed by Element Power.
“We are very pleased to invest in the Acres and Barranafaddock wind projects on behalf of our clients,” said BlackRock managing director Rory O’Connor.
“This transaction represents BlackRock’s continued focus on renewable power investments, where the firm has over $2.5 billion of equity assets under management.”
BlackRock acquired the 9.2MW Garranereagh wind farm in Cork and the 36MW Monaincha project in Tipperary from Element Power in 2013.
Image: Acres wind farm (Element Power)
