+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

Greencoat Renewables announces first transaction in Nordic market

News

Greencoat Renewables PLC, the renewable infrastructure company invested in euro-denominated assets, is pleased to announce the agreement to acquire Kokkoneva wind farm from Abo wind, a global renewable energy project developer, for a consideration of approximately €60 million.

The 43.2MW asset is currently under construction in Siikalatva, Finland, with commencement of commercial operations expected in Q2 2022. The transaction is structured under a forward sale model and will only complete once Kokkoneva is fully operational.

The agreement is in line with Greencoat Renewables’ European expansion strategy and follows the acquisition of a portfolio of three French wind farms in summer 2020. The Finnish wind market is well-established and characterised by high wind speeds, large capacity turbines, and a correspondingly low cost of electricity generation.

Kokkoneva is a subsidy-free wind farm and has entered a 10-year fixed-price Corporate PPA with Gasum, Finland’s state-owned gas utility for the majority of the electricity generated.

The wind farm will use nine Nordex N149 4.8MW turbines and will benefit from a 15-year O&M contract with Nordex. Abo wind will finance and manage the construction of the wind farm and will continue to provide operational management services for the wind farm once operational.

Paul O’Donnell, Partner at Greencoat Capital, the Investment Manager, said:

“The combination of low-cost renewable energy, and a well-developed Corporate PPA market make the Nordics a very attractive target for renewable energy investment. We’re delighted to secure such a high-quality asset from Abo wind, and have sight of further value-accretive opportunities in Finland and the rest of the Nordic region.

As the renewable generation market continues to develop, we expect to see greater opportunity in forward-sale and corporate PPA models and believe Greencoat Renewables is well positioned to benefit both in Europe and in Ireland.”

Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: