{"id":4579,"date":"2019-05-09T10:54:39","date_gmt":"2019-05-09T10:54:39","guid":{"rendered":"http:\/\/www.coillte.ie\/development\/?p=4579"},"modified":"2019-05-09T10:56:07","modified_gmt":"2019-05-09T10:56:07","slug":"coillte-wins-deal-of-the-year-award-at-irish-times-business-awards","status":"publish","type":"post","link":"https:\/\/www.coillte.ie\/development\/coillte-wins-deal-of-the-year-award-at-irish-times-business-awards\/","title":{"rendered":"Coillte wins Deal of the Year award at \u2018Irish Times\u2019 Business Awards"},"content":{"rendered":"

State forestry company wins for \u20ac136m sale of its stake in four wind farms Greencoat<\/h4>\n

State forestry company Coillte<\/a> has won the Deal of the Year award at The Irish Times Business Awards in Dublin.<\/p>\n

Coillte\u2019s sale of its stake in four wind farms to Dublin-listed Greencoat Renewables<\/a> for \u20ac136 million was one of last year\u2019s more significant deals. The price is unlikely to be repeated for similar assets, as regulators plan a change in supports offered to green energy projects.<\/p>\n

The company sold 50 per cent stakes in wind farms at Raheenleagh, Co Wicklow, Cloosh Valley, Co Galway; and Castlepool, Co Cork, and 25 per cent of Sliabh Bawn wind farm, Co Roscommon, to Greencoat. Between them, the plants can generate up to 105 megawatts of electricity, enough at full throttle to power more than 100,000 homes.<\/p>\n

The \u20ac136 million easily topped the \u20ac125 million target set by Coillte when it put its stakes in the wind farms on the market the previous March. It was also more than five times the \u20ac25 million that the State company invested in the assets in the first place, and put an overall \u201centerprise value\u201d on the plants of \u20ac281 million.<\/p>\n

Outgoing chief executive Fergal Leamy<\/a>, who is to join Glen Dimplex<\/a> next month, indicated that as well as paying the State a dividend, Coillte would reinvest some of the cash in further wind farms, which he said it would build and sell once they began operating and selling electricity.<\/p>\n

The other nominees for the Deal of the Year award were Smyth Toys, Adapt Pharma and One4All.<\/p>\n

Other awards being distributed at the awards ceremony on Wednesday include business person of the year, chief financial officer of the year, local enterprise of the year and distinguished leader in business for 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

State forestry company wins for \u20ac136m sale of its stake in four wind farms Greencoat State forestry company Coillte has won the Deal of the Year award at The Irish Times Business Awards in Dublin. Coillte\u2019s sale of its stake in four wind farms to Dublin-listed Greencoat Renewables for \u20ac136 million was one of last &hellip<\/p>\n","protected":false},"author":9,"featured_media":4580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"class_list":["post-4579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"acf":[],"yoast_head":"\nCoillte wins Deal of the Year award at \u2018Irish Times\u2019 Business Awards - Coillte<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coillte wins Deal of the Year award at \u2018Irish Times\u2019 Business Awards - Coillte\" \/>\n<meta property=\"og:description\" content=\"State forestry company wins for \u20ac136m sale of its stake in four wind farms Greencoat State forestry company Coillte has won the Deal of the Year award at The Irish Times Business Awards in Dublin. 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