M&A Deal Summary

Greencoat UK Wind Acquires ERG - Brockaghboy Wind Farm

On March 8, 2018, Greencoat UK Wind acquired renewable energy company ERG - Brockaghboy Wind Farm from ERG for 163M GBP

Acquisition Highlights
  • This is Greencoat UK Wind’s 3rd transaction in the Renewable Energy sector.
  • This is Greencoat UK Wind’s largest (disclosed) transaction.
  • This is Greencoat UK Wind’s 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2018-03-08
Target ERG - Brockaghboy Wind Farm
Sector Renewable Energy
Buyer(s) Greencoat UK Wind
Sellers(s) ERG
Deal Type Divestiture
Deal Value 163M GBP

Target

ERG - Brockaghboy Wind Farm

Coleraine, United Kingdom
Brockaghboy is located approximately 30 miles east of Londonderry in Northern Ireland and has a capacity of 47.5MW. Brockaghboy was originally developed by TCI Renewables Limited ("TCI") and constructed by ERG with support from TCI. The wind farm is accredited to receive 0.9 ROCs per MWh from August 2017 and was fully commissioned in February 2018. The forecast net load factor is 40.5%.

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Buyer(S) 1

Buyer

Greencoat UK Wind

London, United Kingdom

website


Category Company
Sector Renewable Energy
Revenue 119M GBP (2020)
DESCRIPTION

Greencoat UK Wind is a specialized entity in renewables infrastructure investments in energy, wind generation assets and onshore and offshore wind farm projects with a capacity of 436MW .The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (6.49p for 2017) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of portfolio gearing.


DEAL STATS #
Overall 3 of 3
Sector (Renewable Energy) 3 of 3
Type (Divestiture) 2 of 2
Country (United Kingdom) 3 of 3
Year (2018) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-27 Langhope Rig Wind Farm

United Kingdom

Langhope Rig is located near Hawick in the Scottish Borders, and has a capacity of 16MW and a forecast net load factor of 33%.

Buy £40M

Seller(S) 1

SELLER

ERG

Genoa, Italy

website


Category Company
Founded 1938
Sector Utilities
Employees804
Revenue 714M EUR (2022)
DESCRIPTION

ERG is a wind power operator in Italy and amongst the main players in Europe, with an installed capacity of 1,768 MW. ERG was founded in 1938 and is based in Genoa, Italy.


DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 2 of 2
Country (United Kingdom) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-05 Totalgaz Italia S.r.l.

Rome, Italy

Totalgaz Italia S.r.l. serves approximately 65,000 customers in the northern region of Italy, the 9th largest economy in the world, primarily for space heating and industrial applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-24 LongWing Energy France SA - Three Wind Farms

Luxembourg, Luxembourg

LongWing Energy France SA - Three Wind Farms which has an overall installed capacity of 38 MW, came on stream between 2010 and 2012 and have a total annual output, based on historical average, of around 70 GWh, corresponding to over 1,840 equivalent hours and equal to approximately 37 kt of avoided CO2 emissions per year. For a period of 15 years, starting from the commercial operation date, the plants are entitled to benefit from an overall incentive tariff, which in 2019 averaged about 91 Euro/MWh.

Buy €40M