Greencoat Renewables

Acquisition allows GRP to explore corporate market

  • Sectors : Utilities
  • Companies : Greencoat Renewables

Ratings and price correct at time of issue.

  • Greencoat Renewables

    Closing Price: 115c

  • RATING 24/08/17



When recently announcing its intention to raise additional equity, Greencoat Renewables (GRP) stated that it was considering over €500m of sale processes. We now know one of those processes was Beam Hill (14MW), which it has acquired for a total consideration of €10.4m. It is a merchant asset, which allows it to “explore different contracted power price structures”. In other words, GRP is keen to understand other (non-subsidy backed) revenue streams in Ireland, including the corporate PPA opportunity. This small acquisition allows it to explore the same.

Download full report with analyst certification and important disclosures

Nov 27 2019, 08:35 GMT