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Viridian Group acquires Rathsherry windfarm in Northern Ireland

3 August 2016 – Viridian Group has acquired a 100 percent ownership interest in the 21 megawatt Rathsherry windfarm in County Antrim, Northern Ireland. The nine turbine windfarm will start construction later this year and is expected to achieve commercial operations in 2017. Including long-term contracts with third-party producers, this acquisition brings Viridian’s total renewables capacity to nearly one gigawatt.
“We are delighted to acquire the Rathsherry windfarm” said Ian Thom, Viridian Group Chief Executive Officer. “The acquisition of this high quality project is in line with our medium-term strategy to grow our wind generation portfolio to 300 megawatts. With 225 megawatts of wind assets operational or under construction, the Rathsherry windfarm represents substantial progress towards this target and further diversifies our regulated revenue streams, increasing stability of cash flows.”
Gautam Bhandari, Partner at I Squared Capital, said, “Viridian Group continues to cement its position as Ireland’s leading independent integrated energy business. We are delighted to complete this first bolt-on acquisition by Viridian under I Squared Capital’s ownership, which further strengthens Viridian’s renewables business and its green energy focus.”
About Viridian Group: Viridian is the leading independent energy company in the all-Ireland market. With an annual turnover of circa €2 Billion, the Viridian Group is one of Ireland’s Top 50 Businesses. For more information please visit www.viridiangroup.co.uk.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in North America, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.
For further information please contact:
Viridian Group Corporate Communications
Tel. +442890383765
Website: www.viridiangroup.co.uk or www.viridiangroup.ie
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