A major sale between Greencoat Renewables and Coillte has been named Deal of the Year at The Irish Times Business Awards in Dublin.

Coillte sold its stake in four wind farms to the Dublin-listed company for €136 million.

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.

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The €136 million figure topped the €125 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 €25 million that the State company invested in the assets in the first place, and put an overall 'enterprise value' on the plants of €281 million.

The other nominees for the Deal of the Year award were Smyth Toys, Adapt Pharma and One4All.

Other awards being distributed at the awards ceremony include business person of the year, chief financial officer of the year, local enterprise of the year and distinguished leader in business for 2019.

(CM/JG)