Wind farm operator Greencoat Renewables has raised €147.7m through the issue of 140 million new shares in Dublin. 

Greencoat said it would use the money to pay down its revolving credit facility, which would free up capital for further acquisitions.

The company currently has €4 billion of renewable energy assets under management, including 12 Irish wind farms.

It said the secondary wind market in Ireland remains very active, with Greencoat involved in a number of developments totalling more than 250MW in aggregate capacity. 

This includes the potential acquisition of a high-quality operating asset with a headline enterprise value of €76m. The deal is expected to close at the end of March. 

Rónán Murphy,  the company's chairman, said the net proceeds of the placing will enable Greencoat to execute further value accretive acquisitions in its pipeline in Ireland.

He said the company continues to see an "exciting aggregation opportunity in the secondary wind market" in Ireland.