DC Advisory advises Coillte on the sale of its operating wind farm portfolio to Greencoat Renewables
Background
- Coillte is a commercial semi-state, whose core business is commercial forestry and associated management activities. Coillte also manufactures and sells wood panel products through its Medite and Smartply brands and has a long involvement in renewable energy in Ireland
- Greencoat Renewables PLC (GR) is a €270m listed Irish vehicle which has recently acquired 194MW of operating wind assets in the Republic of Ireland from four different utilities/ developers. GR is managed by Greencoat Capital which has been one of the most active wind investors in the UK and Ireland, having invested in 35 operating wind farms with a net capacity of 935MW
Process
- DC Advisory was engaged by Coillte to act as exclusive financial advisor on the potential sale of its operating wind farm portfolio
Outcome
- Coillte's wind farm portfolio was sold to Greencoat Renewables for an enterprise value of €281m
- The capital raised will be recycled back into the business with focus on core forestry activities, co-funding of new wind development opportunities and other strategic opportunities
- Coillte will retain ownership of the land on which the wind farms are located delivering significant long-term income for the company
- This transaction further showcases DC Advisory's expertise in the renewable energy sector
“Today’s announcement demonstrates the exceptional quality of the renewable energy assets which we have developed over the last four years. We have had a very competitive process attracting the very best of domestic and international interest from leading players in the sector and we are very pleased that the price achieved has exceeded our original target.”
“DC Advisory ran a far-reaching and highly-competitive process to deliver an excellent result for Coillte.”
Date
Sectors
- Infrastructure
Deal type
- M&A Advisory
Deal locations
Deal team
Managing Director, DC Advisory Ireland
Actions
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