Greencoat Renewables, the Dublin-listed wind and solar energy group, is to expand its portfolio of wind assets with the acquisition of a 50 MW wind farm in Spain. The company said it had reached an agreement to buy the Andella farm in Valladolid, which is currently under construction and expected to be operational in the second quarter of next year.
“The Spanish renewables market presents an excellent opportunity for the company, having emerged as one of the leading European unsubsidised markets, with one of the strongest wind resources in Europe and a correspondingly low cost of electricity generation,” Greencoat said, noting it was a further step in the delivery of Greencoat Renewables’ European expansion strategy and follows growth into Germany, France, Finland and Sweden.