Renewable infrastructure company Greencoat Renewables has acquired a wind farm in Spain, marking the company's second investment there.
The 21MW Soliedra wind farm is located in Soria, in the Castilla y Leon region. It consists of six GE-137 turbines, operational since May 2021, and is contracted as a merchant asset.
The windfarm was bought for an undisclosed sum from Alfanar Global Development.
"We are delighted to secure such a high-quality asset from Alfanar and have sight of further value-accretive opportunities in Spain," said Paul O'Donnell, partner at Greencoat Capital.
"As the renewable generation market continues to develop, we expect to see greater opportunity in the unsubsidised renewables market and believe Greencoat Renewables is well positioned to benefit both across mainland Europe and in Ireland. "
The acquisition will bring Greencoat Renewables’ total borrowings to 40 per cent of gross asset value.
