Irish wind power group plans $77m investment

Gaelectric is raising $77m from capital markets to fund a series of proposed wind power developments in Ireland.

The company announced securing planning permission for two onshore wind-power plants in Co Derry, both of which would have the capacity to generate a total of 25 MW of electricity.

Wind power
It also emerged that Gaelectric has hired Royal Bank of Canada Capital Markets to aid it in raising $77m to fund a series of projects that it is planning across Ireland.

The company now has planning approval for plants with a total capacity of 130 MW around the country, which would require a total investment in the region of €260 million, reports the Irish Times.

The energy industry hopes that market supports, such as the guaranteed prices offered to wind energy projects in Ireland, will help attract more institutional investors and venture capitalists to the industry.

Gaelectric also has plans to build wind farms with a total capacity of 510 MW in Montana in the north western US by 2015 and over the longer term in the US, it is hoping to erect enough turbines to generate 1,435 MW of electricity at full capacity.

The Irish Wind Energy Association holds its annual conference at the Inec in Killarney, Co Kerry, today.

For more wind power news




Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...