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Tipperary wind farm ‘where wind failed to blow’ sold for €70m  

Credit:  Eamon Quinn | Irish Examiner | Thu, 01 Apr, 2021 | www.irishexaminer.com ~~

A wind farm in Glencarbry, Co Tipperary, put up for sale two years ago because its owner John Laing said the wind there blew less strongly than anticipated has been sold to Greencoat Renewables.

Greencoat said it had bought the wind farm of 12 turbines which were first installed in 2017, which will generate power at a minimum price for 15 years under a Government incentive to build wind farms. It gave no price but the acquisition is estimated at €70m.

The Irish Examiner reported in August 2019 that John Laing chief executive Olivier Brousse had told analysts it was taking a multi-million writedown on the wind farm at Glencarbry and others in Germany because it estimated that the wind would blow less and generate less power over the next 10 to 15 years than it once thought.

Mr Brousse had said at the time that the wind had been “quite subdued” in Germany and Ireland in 2019. The comments perplexed other wind producers here at the time.

Greencoat said the purchase of the 35.6Mw Tipperary wind farm increases its capacity to 685.6Mw.

“We are pleased to continue our strategy of consolidating the Irish renewable energy market with the acquisition of Glencarbry wind farm, another high-quality asset with long-term contracted revenues,” Greencoat investment manager Paul O’Donnell said.

Source:  Eamon Quinn | Irish Examiner | Thu, 01 Apr, 2021 | www.irishexaminer.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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