Latest news with #Greencoat
RTÉ News
21-05-2025
- Business
- RTÉ News
Greencoat Renewables gets approval for Johannesburg listing
Wind and solar energy group Greencoat Renewables confirmed today that the Johannesburg Stock Exchange has granted approval to the company for a secondary listing on the Alternative Exchange of the JSE. The listing and commencement of trading will take effect on Monday, June 9. The company said admission to the JSE is expected to be beneficial to the company over time as it will enhance liquidity, diversify the shareholder base and position Greencoat for growth by providing access to a new and deep capital market. It added that it remain listed on the Euronext Growth Market in Dublin and the Alternative Investment Market in London. "Greencoat Renewables' return profile offers an attractive proposition to South African investors who we look forward to welcoming onto our share register. Our listing on the JSE further demonstrates our innovative and proactive approach to improving liquidity," Ronan Murphy, Greencoat's non-executive chairman said.
RTÉ News
13-05-2025
- Business
- RTÉ News
Greencoat Renewables to sell 6 Irish windfarms for €156m
Wind and solar energy group Greencoat Renewables has agreed a deal to sell a portfolio of six Irish onshore wind assets for a total of €156m to Norwegian private equity firm HitecVision. The wind farms have a total of 115.7MW in net capacity. The disposed portfolio comprises 100% of five assets (65.7MW) and a 50% stake in one of the larger assets in its portfolio. The company said today's sale aligns with its active portfolio management strategy that aims to maintain prudent gearing and a high level of contracted revenues through a combination of asset sales, the creation of new PPAs, and reinvestment in due course. Today's deal also builds on the disposal of the Kokkoneva wind farm in Finland announced last November 2024. Greencoat has now raised more than €200m from asset sales across six assets in the past six months. "The combination of these disposals increases our capital allocation options for the future," it stated. Greencoat said it continues to explore value further disposals and is in advanced talks over the sale of a significant minority stake in its 50MW Andella wind farm in Spain. Paul O'Donnell, Partner, Schroders Greencoat LLP, said the deal reflects the disciplined execution of the company's capital allocation strategy, unlocking value from its portfolio and further enhancing its 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. "As well as providing future balance sheet flexibility, this latest transaction underpins the opportunity to create increasing value from older assets including re-contracting PPAs and options for hybridisation and repowering," he added. Greencoat Renewables also said today that it is in the process of applying for a secondary listing on the Alternative Exchange of the Johannesburg Stock Exchange. The company said it had received strong interest in the listing from a number of South African institutional investors, who are attracted to the company's scale, strong track record, high cash generation and progressive approach to distributions. It said it believes that admission to the JSE will be beneficial to the company and its stakeholders as it will enhance liquidity for shareholders, diversify its shareholder base and position the company for growth, by providing access to a new and deep capital market. Ronan Murphy, Non-Executive Chairman of Greencoat Renewables, said the company has been encouraged by the response of highly reputable South African institutional investors, and expect to increase liquidity, broaden the company's shareholder base and position it for future growth in due course. "Through the continued generation of high and secure cashflows, we consider the company well placed to provide local investors with attractive eurodenominated returns going forward," he added.
Irish Times
13-05-2025
- Business
- Irish Times
Greencoat agrees €156m sale of six Irish wind assets
Greencoat Renewables has agreed to sell a portfolio of wind assets for up to €156 million to HitecVision. The company said the portfolio includes six Irish onshore wind assets, comprising 100 per cent of five assets and a 50 per cent stake in one of its larger assets. The portfolio has a total of net capacity of 115.7MW. The deal includes a payment of €139 million and €17 million in non-contingent deferred consideration over 2026 and 2027. Greencoat also announced it was in the process of applying for a secondary listing on the Alternative Exchange of the Johannesburg Stock Exchange. This follows strong interest in the stock from a number of South African institutional investors, READ MORE The proceeds of the sale will be used to repay its revolving credit facility, reducing its drawn balance from the €201 million it reported in 2025. Greencoat said the sale was in line with its active portfolio management strategy, and builds on the disposal of the Kokkoneva wind farm in Finland announced in November 2024. It brings to more than €200 million the total raised from asset sales in the past six months. Greencoat said it would continue to explore value further disposals, with negotiations for the sale of a significant minority stake in its 50MW Andella wind farm in Spain at an advanced stage. 'This transaction reflects the disciplined execution of our capital allocation strategy, unlocking value from our portfolio and further enhancing our financial strength,' said Paul O'Donnell, partner at Schroders Greencoat. 'We continue to see significant opportunities in the growing European renewable market for Greencoat Renewables to create value for its shareholders. As well as providing future balance sheet flexibility, this latest transaction underpins the opportunity to create increasing value from older assets including re-contracting PPAs and options for hybridisation and repowering.'
Irish Examiner
13-05-2025
- Business
- Irish Examiner
Greencoat Renewables enters deal to €156m to sell six Irish windfarms
Energy infrastructure investment company Greencoat Renewables has announced that it has entered an agreement to sell six of its onshore wind farms to HitecVision, a Norwegian private equity firm, for €156m. 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.
