Greencoat Renewables has acquired the 11.5MW An Cnoc Wind Farm in Ireland and secured a new €200m loan.

The Irish renewable infrastructure company buying the wind farm in County Tipperary in a deal Greencoat said is being funded by its existing credit facility. Enercon will continue to manage the operations and maintenance contract.

Greencoat said it has agreed new €200m 5-year term loan with Commonwealth Bank of Australia, National Australia Bank and Natwest, to be used to pay down some of the existing revolving credit facility.

Bertrand Gautier, partner at Greencoat Capital, the investment manager, said: “We have now established a new term loan facility with a syndicate of three relationship banks to provide depth to our capital structure in line with our leverage strategy.

“We are very pleased with the terms of the facility, and the acquisition flexibility that it will provide.”

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