Greencoat Renewables PLC is pleased to announce it has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5 million. This brings Greencoat Renewables' portfolio of operational wind assets to 461MW.

The wind farm consists of 8 Vestas V66 turbines that have been operational since November 2006. Vestas will continue to manage the operations and maintenance contract.

The acquisition is being funded by the Company's €380 million credit facility. Following the acquisition, Greencoat Renewables total borrowings are 48% of Gross Asset Value.

Bertrand Gautier, Partner at Greencoat Capital, said:

We are pleased to announce the acquisition of Beam Hill Wind Farm, adding another high-quality wind asset to our portfolio. Beam Hill represents our first merchant wind farm acquisition and will allow Greencoat Renewables to explore different contracted power price structures, including the emerging Corporate PPA market in Ireland.