Greencoat Renewables has agreed to sell a portfolio of wind assets for up to €156 million to HitecVision.
The company said the portfolio includes six Irish onshore wind assets, comprising 100 per cent of five assets and a 50 per cent stake in one of its larger assets. The portfolio has a total of net capacity of 115.7MW.
The deal includes a payment of €139 million and €17 million in non-contingent deferred consideration over 2026 and 2027.
Greencoat also announced it was in the process of applying for a secondary listing on the Alternative Exchange of the Johannesburg Stock Exchange. This follows strong interest in the stock from a number of South African institutional investors.
The listing is expected to become effective later this year, subject to the necessary regulatory approvals in South Africa, which the company said were “well advanced”. It already has listings in Dublin and London.
The proceeds of the sale, meanwhile, will be used to repay its revolving credit facility, reducing its drawn balance from the €201 million it reported in 2025.
Greencoat said the sale was in line with its active portfolio management strategy, and builds on the disposal of the Kokkoneva wind farm in Finland announced in November 2024.
It brings to more than €200 million the total raised from asset sales in the past six months. Greencoat said it would continue to explore value further disposals, with negotiations for the sale of a significant minority stake in its 50MW Andella wind farm in Spain at an advanced stage.
“This transaction reflects the disciplined execution of our capital allocation strategy, unlocking value from our portfolio and further enhancing our financial strength,” said Paul O’Donnell, partner at Schroders Greencoat.
“We continue to see significant opportunities in the growing European renewable market for Greencoat Renewables to create value for its shareholders. As well as providing future balance sheet flexibility, this latest transaction underpins the opportunity to create increasing value from older assets including re-contracting PPAs and options for hybridisation and repowering.”
