Invis Energy to Sell Ardderroo Wind Farm in Ireland

Deal In Brief

Invis Energy, an Ireland-based renewable energy developer, has put one of the largest wind farms in the country on the market. Details of this plan by Invis Energy to sell Ardderroo Wind Farm come after the firm sold a majority stake in eleven of its wind farms to GLIL Infrastructure, which is a fund backed by several pension schemes in the UK

Invis Energy, which is owned by businessman Michael Murnane’s Craydel Group, has a large portfolio of on-shore wind farms in Ireland after developing more than 550MW of operational projects across Ireland

Details of the company’s decision to sell the 101MW Galway-based Ardderroo Wind Farm, being developed at a cost of €200 million, were first reported by PeakLoad, the trade publication. The wind farm is expected to be operational before the end of 2023. The firm has previously struck a corporate power purchase agreements with Amazon to provide the tech giants projects in Ireland with energy

Under the two deals with Amazon, the firm sold nearly 80,000 homes’ - or 113 megawatts’ - worth of renewable electricity for the firm to use for its energy-hungry data centres

KPMG have been appointed by Invis Energy to handle the sale of the Galway wind farm, which has been called Project Willow. Sales material said there is an opportunity for a buyer to acquire between 90 per cent and 100 per cent of the development

It added that the project is well-located in the west of Ireland and “benefiting from exceptional wind resources and in close proximity to large electricity demand load requirement of Galway city”

“The project benefits from a grid connection and is currently undergoing dispatch testing with a target commercial operations date in Q4 2023,” it added.

Deal Type	Acquisition
Sub-Category	Asset Purchase
Deal Status	Announced: 2023-09-13

Deal Participants

Acquirer (Company)	Undisclosed Company
Vendor (Company)	Invis Energy

Deal Rationale

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