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.