Discover the groundbreaking wind deal that has experts buzzing - Greencoat Renewables joins forces with FuturEnergy Ireland

Greencoat Renewables Signs Strategic Framework Agreement with FuturEnergy Ireland

Greencoat Renewables has announced a significant milestone in its efforts to combat climate change. The company has signed a strategic framework agreement with FuturEnergy Ireland, which will allow Greencoat to invest more than €1bn into Irish onshore wind projects by 2030.

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This landmark agreement is Greencoat's first of its kind and solidifies its commitment to Ireland's climate targets. The investment will not only contribute to the country's 2030 climate goals but also support its broader net zero ambitions.

The strategic framework agreement provides Greencoat with access to a long-term pipeline of Irish onshore wind projects. Through the agreement, Greencoat will be able to acquire project stakes under a forward sale basis, subject to relevant stakeholders' consent.

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This collaboration with FuturEnergy Ireland is essential for Greencoat's strategy to reinvest organic cash and secure attractive new investments. As the largest owner of onshore assets in Ireland, with an investment of over €1.4bn in the past six years, Greencoat is well-positioned to deliver these critical projects.

FuturEnergy Ireland brings its unique pipeline of projects and expertise in renewable energy development to the partnership. Established in 2021, this joint venture aims to accelerate Ireland's transition to low carbon energy and aims to deliver 1GW of onshore wind projects by 2030.

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This agreement will help us accelerate the commercialization of projects and support national and EU climate goals," said FuturEnergy CEO Peter Lynch. "It will also lead to the faster delivery of renewable energy projects needed to reduce carbon emissions."

Greencoat Renewables, initially focused on wind farm management in Ireland, has expanded its presence in Europe in recent years. The company has made strategic acquisitions in countries such as Finland, Germany, and Spain, further enhancing its portfolio and influence in the European renewable energy market.

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1. In April 2021, Greencoat acquired the Glencarbry wind farm in Co Tipperary, Ireland.
2. In February 2021, Greencoat entered the Nordic market by acquiring a Finnish wind farm.
3. Earlier this year, Greencoat acquired a 22% stake in the Butendiek wind farm in Germany's North Sea.
4. Last month, the company expanded its presence in Europe with the acquisition of the Andella wind farm in Spain.

Through these strategic acquisitions and partnerships, Greencoat Renewables continues to establish itself as a key player in the renewable energy landscape, actively working towards a sustainable future.

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