Greencoat Renewables enters deal to €156m to sell six Irish windfarms
The company said these six wind farm assets generate a total of 115.7MW in net capacity. The deal includes an up-front consideration of €139m and €17m in non-contingent deferred consideration over 2026 and 2027.
The disposed portfolio comprises 100% of five assets, accounting for 65.7MW, and a 50% stake in one of the larger assets in Greencoat Renewables' portfolio.
'Greencoat Renewables will work alongside HitecVision and its newly created platform company to assess future value creation opportunities at the jointly owned wind farm,' the company said.
Proceeds of this sale will be allocated to Greencoat's revolving credit facility.
Paul O'Donnell, partner at Schroders Greencoat LLP, said this deal 'reflects the disciplined execution of our capital allocation strategy, unlocking value from our portfolio and further enhancing our financial strength'.
'We continue to see significant opportunities in the growing European renewable market for Greencoat Renewables to create value for its shareholders,' he said.
In November last year, the company announced the disposal of the Kokkoneva wind farm in Finland. Including this latest deal, Greencoat has raised in excess of €200m from asset sales across seven assets in the past six months.
It is also in advanced negotiations over the sale of a significant minority stake in its 50MW Andella wind farm in Spain.
Greencoat Renewables is an investor in euro-denominated renewable energy infrastructure assets. It was initially focused solely on the acquisition and management of operating wind farms in Ireland but has since invested in wind and solar assets in other European countries with stable and robust renewable energy frameworks.
It is managed by Schroders Greencoat LLP.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Examiner
2 hours ago
- Irish Examiner
Ryanair carried record 20.7m passengers in July
Ryanair carried 20.7m passengers last month, a record number for July, despite French air traffic control (ATC) strikes. The Irish carrier said on Tuesday that passenger numbers were up 3% from 20.2m for the equivalent period in 2024. Its load factor - which represents the average proportion of seat filled on its aircraft - was unchanged, at 96%. Ryanair operated over 113,000 flights in July. Some 680 flights were cancelled mainly due to French air traffic controller (ATC) strikes. French ATC staff took industrial action on July 3 and 4 in a dispute over working conditions. The strikes distrupted Irish and European flights to and from French airports, while the walkouts also affected flights scheduled which travelled over French airspace, which meant many more disruptions. European air traffic management body Eurocontrol estimated the strikes affected more than 1m passengers. Ryanair has urged European Commission president Ursula on der Leyen to take urgent action to reform EU ATC services. Earlier this week, Ryanair published its data of Europe's worst-performing ATCs, namechecking France, Spain, Germany, the UK, and Greece and accusing them of inflicting avoidable delays "due to mismanagement and inexcusable under staffing". "Neither the EU Commission nor national transport ministers responsible for these failing ATC services have taken any action to fix Europe's broken ATC services. In stark contrast, Countries like Ireland, Slovakia, Denmark, the Netherlands, and Belgium are delivering Europe's most efficient ATC services, which proves that well-managed, properly staffed ATC is not just possible but is already being delivered by many EU states," said Ryanair chief executive Michael O'Leary.
The Irish Sun
2 hours ago
- The Irish Sun
Huge crisis-hit carmaker to slash MORE jobs amid wave of closures after profits dropped by 90% in one year
LONG ROAD AHEAD Huge crisis-hit carmaker to slash MORE jobs amid wave of closures after profits dropped by 90% in one year A MAJOR carmaker is set to cut more jobs as it struggles to recover from a 90 per cent profit plunge and global plant closures. The Japanese automaker has started crunch talks with union reps over job losses at its European regional HQ in Montigny-le-Bretonneux, France – where it employs around 560 staff. 3 The car manufacturer has confirmed that consultations are underway with staff representatives at Nissan Automotive Europe Credit: Getty 3 The job cuts are part of a massive overhaul pushed forward by new CEO Ivan Espinosa, who took the helm in April Credit: Getty Nissan has confirmed that consultations are underway with staff representatives at Nissan Automotive Europe, which also manages the firm's operations across Africa, the Middle East, India and Oceania. An internal document and emails, seen by Reuters, revealed that the office is facing sweeping changes. A source close to the situation said major restructuring is planned, although full details are still under wraps. The talks are set to wrap up by 20 October, with final announcements expected in November. Managers and union bosses have agreed to look at voluntary redundancies first, before moving to any forced layoffs. 'Conducted with care' In an email sent on 31 July, Nissan's regional vice chair Massimiliano Messina told employees: 'We are working diligently and respectfully with all parties to ensure that this process is conducted with care, transparency and in full compliance with legal requirements.' He added that no concrete decisions had yet been taken. The job cuts are part of a massive overhaul pushed forward by new CEO Ivan Espinosa, who took the helm in April. The plan includes axing around 15 percent of the global workforce, cutting production capacity by 30 per cent and trimming the number of manufacturing sites from 17 to 10. Nissan forced to close down another dealership with customers told in onsite message sales have 'concluded' for good The struggling brand hopes the move will help it claw back 500 billion yen – roughly £2.7 billion – in savings. Closures around the globe In another blow, Nissan announced last week that it would shut down production at its Civac plant in Mexico by March 2026. The company also confirmed it would end vehicle output at its Oppama facility in Japan by March 2028, followed by the closure of its Shonan plant – run by Nissan-Shatai – by 2027. Nissan has been grappling with poor sales in key markets like China and the United States, which has added to the financial strain caused by years of aggressive global expansion. The firm currently employs around 19,000 people across Europe, Africa, the Middle East, India and Oceania – with nearly 60% of those jobs based in Europe. The Sun has approached Nissan for comment.
The Irish Sun
3 hours ago
- The Irish Sun
Major strike action to hit 12 Spanish airports that have Ryanair flights
Plus, what you need to know about flight compensation rules GROUNDED Major strike action to hit 12 Spanish airports that have Ryanair flights BRITS heading to Spain this month are being warned of chaos as baggage handlers are to strike at 12 Spanish airports. More than 3,000 workers are set to strike between August 15 and 17 and then will continue to strike every Wednesday, Friday, Saturday and Sunday at a number of Spanish airports. 2 Strikes are expected to hit 12 Spanish airport and impact Ryanair Credit: Alamy The strikes are set to continue through to the end of December. Organised by the union UGT, the repeated walk-outs by Azul Handling - Ryanair's handling subsidiary - are expected to impact the airline's operations. Ryanair's bases located in Valencia, Alicante, Madrid, Barcelona, Seville, Malaga, Ibiza, Palma, Girona, Tenerife South, Lanzarote and Santiago, are expected to be impacted. The strike will affect all bases and work centres in Spain and will take place between 5am and 9am, noon and 3pm and 9pm to 11.59pm. By law, the workers have to provide a "minimum service", however this is yet to be specified. The protests are "against the sanctions imposed on workers and the abuse of hours". The FeSMC-UGT airline sector is requesting mediation before the Interconfederal Mediation and Arbitration Service (SIMA). According to the union, the strikes are being called for various reasons including a lack of stable job creation, restrictions on medical leave and the consolidation of part-time staff's working hours. "UGT regrets having to go to these extremes and all the damages that may occur, for which the direct responsibility will be solely and exclusively the company and its reckless action with the workforce," the union commented. Jose Manuel Perez Grande, federal secretary of the FeSMC-UGT Air Union, claimed Azul Handling has "a strategy of precariousness and pressure on the workforce that violates basic labour rights and systematically ignores union demands". Flight cancelled or delayed? Top tips for handling travel disruptions The FeSMC-UGT Air Sector is now demanding that the company withdraw the sanctions, comply with the opinions of the Joint Commission and immediately open a real negotiation process. This would improve the working conditions of the more than 3,000 workers affected. A number of baggage handlers also went on strike at several Spanish airports for the same reasons last year. A Ryanair spokesperson told The Sun Travel: "Ryanair does not expect any disruption to our operation as a result of these third-party handling strikes in Spain." Back in June, Ryanair also revealed Europe's worst air traffic control centres (ATCs) for delays. This included 1,642 of the airlines' flights to/from the UK being delayed, impacting nearly 300,000 British passengers. Ryanair commented that the European Commission and European governments "have taken no action to fix their shoddy ATC services and ATC delays will now be even worse in summer 2025". Micheal O'Leary, the airline's CEO, added that if staff shortages and ATC issues are not sorted, there will be "record ATC flight delays this summer". Flight compensation rules A look at your rights if a flight is delayed or cancelled, when your entitled to compensation and if your travel insurance can cover the costs. What are my rights if my flight is cancelled or delayed? Under UK law, airlines have to provide compensation if your flight arrives at its destination more than three hours late. If you're flying to or from the UK, your airline must let you choose a refund or an alternative flight. You will be able to get your money back for the part of your ticket that you haven't used yet. So if you booked a return flight and the outbound leg is cancelled, you can get the full cost of the return ticket refunded. But if travelling is essential, then your airline has to find you an alternative flight. This could even be with another airline. When am I not entitled to compensation? The airline doesn't have to give you a refund if the flight was cancelled due to reasons beyond their control, such as extreme weather. Disruptions caused by things like extreme weather, airport or air traffic control employee strikes or other 'extraordinary circumstances' are not eligible for compensation. Some airlines may stretch the definition of "extraordinary circumstances" but you can challenge them through the aviation regulator the Civil Aviation Authority (CAA). Will my insurance cover me if my flight is cancelled? If you can't claim compensation directly through the airline, your travel insurance may refund you. Policies vary so you should check the small print, but a delay of eight to 12 hours will normally mean you qualify for some money from your insurer. Remember to get written confirmation of your delay from the airport as your insurer will need proof. If your flight is cancelled entirely, you're unlikely to be covered by your insurance. A European airport is at risk of closure as Ryanair is set to scrap all flights. Plus, Ryanair warns of record flight delays this summer.
