Greencoat Renewables has announced that it has agreed to purchase the Knockacummer and Killhills wind farms in Ireland from Brookfield Renewable Ireland, comprising 137MW of operating capacity.

The seed capital for Greencoat Renewables is being provided by Allied Irish Banks p.l.c. (AIB) and the Ireland Strategic Investment Fund (ISIF). Greencoat Renewables is managed by Greencoat Capital, a European renewable investment manager with over € 1.7 billion of equity under management across a number of funds in wind infrastructure, solar infrastructure and private equity. Greencoat Renewables intends to raise further long-term capital, over time, to build a portfolio of operating renewable energy assets in Ireland.