Acquisition of  11.5MW Tullynamoyle 2 Wind Farm for €19.3 million

Dublin, London, 3 April 2018: Greencoat Renewables PLC ("GRP") the Irish renewable infrastructure company, today announces the acquisition of Tullynamoyle 2, a 11.5MW wind farm situated in County Leitrim, from a local developer for a total consideration of €19.3 million.

Tullynamoyle 2 wind farm consists of five Enercon E70 turbines, and was commissioned in February 2018, thereby benefiting from 15 years of contracted revenues under the REFIT 2 scheme, guaranteeing a minimum floor price for the electricity generated until 2032.

Paul O'Donnell, Partner at Greencoat Capital, the Investment Manager said:

This acquisition is in line with our strategy to partner with both local and international developers while creating long term value for our shareholders. Tullynamoyle 2 is a great asset and another acquisition with very long-term contracted revenues, giving us stability and visibility of income out until 2032.

The acquisition was funded by GRP's €250 million credit facility. Following the completion of Tullynamoyle 2 and the closing of Dromadda More, GRP total borrowings will be 44% of Gross Asset Value.