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Greencoat Renewables Sells 116 MW Wind Portfolio to Launch New Irish Platform

Greencoat Renewables has finalized the sale of a 116 MW portfolio of Irish onshore wind assets to Hitec Vision for €156 million. The portfolio includes full ownership of five wind farms totaling 65.7 MW, along with a 50% stake in one of Greencoat's larger assets. This strategic divestment enables Greencoat to unlock additional value and reallocate capital towards other opportunities.

The acquisition has led to the creation of a new Irish renewable energy platform, Lirion Power, which will focus on the expansion and optimization of wind energy assets. Lirion Power is a joint venture between Hitec Vision, which holds a 70% stake, and energy transition investment firm Reinova Partners, holding the remaining 30%.

Lirion Power aims to grow through further acquisitions of mid-life wind assets, re-contracting, repowering, and co-located renewable projects. It will also pursue greenfield development projects as part of its mid-term growth strategy. This deal marks a significant development in Ireland’s clean energy sector, signaling increasing investor interest in repowering and extending the lifespan of existing wind assets while supporting the country’s energy transition goals.