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

  • PREVIOUS RATING N/A

DAVY VIEW

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.

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Nov 27 2019, 08:35 GMT

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