The Greystone Infrastructure Fund has acquired a 51% equity interest in the 24.2 MW Ballycadden Wind Farm, which is located in southeastern Ireland.
Under the terms of the agreement, Greystone will have a majority ownership interest, while the remaining 49% ownership will continue to be held by the existing Irish minority shareholders consisting of local land owners.
“This acquisition represents Greystone’s inaugural investment in the European market and provides our institutional investors with a unique opportunity to gain long-term exposure to the European renewable energy sector,” said Jeff Mouland, head of the Greystone Infrastructure Fund.
“Furthermore, the transaction enhances Greystone’s European presence and accelerates the firm in our pursuit of other high quality assets in Ireland and across Europe on behalf of our investors.”
The asset will be managed by Greystone’s infrastructure team, led by Jeff Mouland in Toronto.