Coillte to sell its stake in wind farms for nearly €125 million
Date: 2018-03-24   Author: Dhananjay Punekar  Category: #market

Coillte, a commercial forestry firm in Ireland, is planning to sell its stake in four wind farms for nearly €125 million. Reportedly, the sales procedure is likely to explore the interest of the investors in purchasing 50% of ownership rights in each of the joint venture wind farms of Coillte. For the record, the wind farms include Co Galway, Cloosh Valley, Raheenleagh, Castlepook, and Co Wicklow in Co Cork.

Coillte had developed the wind farms in association with Bord na Mona, ESB, and SSE. The key officials of Coillte have forecast that the firm will receive the long-term land lease revenue from the farms throughout its operational lifespan. As per authentic sources, it is seeking the sale of two wind farm projects from the potential investors for making the company’s position stronger economically.

Speaking on the development, the CEO of Coillte, Fergal Leamy was quoted stating that the firm had received a lot of inquiries, pertaining to the stake sale from pension funds based out of the U.S. and Ireland. As per reliable sources, Coillte is also likely to sell its 25% share in the Sliabh Bawn wind farm.  

Speculations have been made that the firm will invest the earnings from the sale of the farms in its forestry business and will also make co-investments in the new wind farms for producing renewable energy. Moreover, the company is slated to provide information regarding its plans of generating over 1,000 MW of sustainable energy from the twenty-five projects that it plans to launch in the next ten years. Reportedly, Coillte further plans to introduce renewable power projects in partnership with other firms, although it will retain the land possession.

With the escalating demand for renewable energy, the firm is looking forward to optimizing the value of its assets and contribute substantially towards its existing business portfolio, claim experts familiar with the matter.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

Automotive turbocharger market revenue to exceed USD 24 billion by 2024, five trends this industry is currently dominated by
Author: Saipriya Iyer

Global Market Insights, Inc., estimates automotive turbocharger market size to exhibit a CAGR of 9% over 2017-2024, reportedly driven by the escalating demand for turbocharging technologies to deliver fuel-efficient ve...


Minetec to supply Olympic Dam with underground fleet management system
Author: Dhananjay Punekar

Australian company Minetec, a subsidiary of Codan Limited, has apparently won a contract for delivering an underground fleet management system to BHP’s Olympic Dam copper-uranium-gold mine. The monetary value of ...


PayPal acquires iZettle to strengthen control in in-store payments
Author: Dhananjay Punekar

PayPal Holdings Inc., a U.S. based online payments firm, has decided to purchase iZettle, a Sweden-based financial tech firm for small businesses, for a valuation of USD 2.2 billion. As per sources familiar with the ma...