Natural Power has provided technical due diligence to Greencoat Renewables in support of its agreement to acquire two Irish windfarms from Statkraft Ireland under a forward sale model for a combined value of €123 million.
The deal comprises Cloghan wind farm (37.8MW) which is located in County Offaly, and Taghart wind farm (25.2MW) in County Cavan. Statkraft Ireland will manage the construction of each site and will continue to provide trading and operational management services once operational. Construction will commence in early 2021 with the acquisition due for completion once both wind farms are fully operational, expected in late 2022. Both wind farms benefit from 15-year fixed-price contracts, secured under the recent RESS 1 auction.
