Greencoat Renewables PLC entered into agreement to acquire an additional 22.5% stake in Butendiek Offshore Windpark Holding GmbH from an affiliate of Siemens Pension Trust EV for approximately ?170 million.

Greencoat Renewables PLC (ISE:GRP) entered into agreement to acquire an additional 22.5% stake in Butendiek Offshore Windpark Holding GmbH from an affiliate of Siemens Pension Trust EV for approximately ?170 million on October 2, 2023. The Butendiek investment is subject to regulatory approval and scheduled to complete in November 2023. Ronan Veale and Brian Garrahy of Davy Corporate Finance Limited acted as financial advisor to Greencoat Renewables.

Malte Jordan, Max Boemke, Christine Bader and Verena Scheibe of Watson Farley & Williams adviced Greencoat Renewables PLC.