RBC hired to advise on Invis wind farm sale

06 Jan 2017 – Invis Energy, a power producer owned by HgCapital and Craydel Group, has hired RBC to advise on the sale of its onshore wind farm portfolio in the Republic of Ireland, HgCapital said in an exclusive statement to Mergermarket.

“RBC Capital Markets has been appointed as adviser on the sale. The process is at an early stage and, while interest in the assets has been strong, discussions are ongoing. We will provide a further update in due course,” Hg said in statement.

The sale process was launched in December and indicative bids are due in January, a source familiar with the situation said.

The size of stake of portfolio for sale depends on these bids, and the entire wind farm is potentially for sale, a sector banker added.

There is no debt attached to the portfolio, which has also secured a 15-year feed-in tariff subsidy for its power output, the source familiar said.

The deal could be valued at around EUR 3m per MW for the 220 MW portfolio, and all wind farms in the portfolio are newly operational or close to being operational, the first source added.

The portfolio comprises the 44.4 MW Knocknagoum wind farm in County Kerry, the 44 MW Leitir Guingaid/Leitir Peic wind farm in Galway, and the 65 MW Knockduff wind farm in Cork, which are all operational; and the 25 MW Killaveenoge wind farm in Cork, due to be commissioned in April 2017, and the 45 MW Slievecallan West in County Clare, which has a commissioning date of 1 December 2017, as per the company’s website.

RBC declined to comment.

by Katie McQue

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