Greencoat Renewables acquires Spanish wind farm

Renewable infrastructure company Greencoat Renewables has acquired the 21MW Soliedra wind farm from Alfanar Global Development, the company's second renewables transaction in Spain.

Greencoat Renewables said on Thursday that the Soliedra wind farm, currently contracted as a merchant asset with the flexibility to contract electricity produced via a corporate PPA, consisted of six GE- 137 turbines that have been operational since May 2021.

While the financial terms of the deal were not disclosed, Greencoat noted that following the acquisition, total borrowings will represent 40% of gross asset value.

The AIM-listed group added that the acquisition brings its total installed capacity to 1,014 megawatts.

As of 1015 BST, Greencoat shares were up 0.86% at €1.17 each.