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IN BRIEF: Greencoat Renewables sells Kokkoneva wind farm to Aneo

Greencoat Renewables PLC - Dublin-based investor in euro-denominated renewable energy ...

Alliance News 20 November, 2024 | 11:04AM
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Greencoat Renewables PLC - Dublin-based investor in euro-denominated renewable energy infrastructure assets - completes sale of 43.2 megawatt Kokkoneva wind farm in Finland to Norwegian renewable energy company Aneo. Greencoat acquired Kokkoneva in 2022 and says sale is accretive to shareholders at 6% premium to net asset value. Proceeds of sale to reduce company's debt and result in reduction of gearing to 1%.

"We are pleased to complete the disposal of the Kokkoneva wind farm at an attractive premium to NAV. This transaction underlines the quality of our portfolio and our ability to execute on value-accretive opportunities to recycle capital," says Investment Manager Paul O'Donnell.

Current stock price: 85 euro cents, up 1.0% on Wednesday morning in London

12-month change: down 9.8%

By Christopher Ward, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Greencoat Renewables 0.85 EUR 1.19 -

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