We recently advised the on the acquisition of Snugborough Windfarm from the Wirefox Group as reported in The Times on 27 January 2019. The consideration was not disclosed.

A Co Cavan wind farm that was formerly owned by Seán Quinn Jr has been bought by a Cavan-based energy group in a deal worth about €15m.

Optinergy has acquired the 13.5MW Snugborough wind farm from Wirefox Capital, an investment group owned by the Belfast-based Eastwood family. Wirefox bought the wind farm in 2015 for less than €8m in the break-up of the former Quinn Group.

Based near Cavan town, Optinergy is run by Aiden Watters, a former executive with General Electric. The deal was backed with funding from Close Brothers Leasing, an asset finance group based in Manchester, according to Companies Office filings.

Optinergy did not respond to requests for comment last week.

Source: The Sunday Times Gavin Daly
January 27 2019, 12:01am,