in News Departments > Projects & Contracts
print the content item

Gaelectric, a renewable energy generation and energy storage group, has raised $84 million in funding for its portfolio of onshore wind energy projects in Ireland.

The portfolio comprises 164 MW of generation capacity across 13 projects that the company plans to develop by 2017, representing a total investment in the region of $325 million.

The funding is led by Swedish group Proventus Capital Partners, and Gaelectric was assisted with the transaction by McCann Fitzgerald and RBC Capital Markets. The funding has also been complemented by a senior debt package structured and provided by Nord LB. Gaelectric says the debt financing has been used to finance the construction of a 13.8 MW wind energy project in Northern Ireland, which is currently being commissioned by Gaelectric.

In addition, Gaelectric has concluded a framework agreement with German turbine manufacturer Enercon. Under the agreement, Enercon technology will be deployed on all the sites covered by the current funding round for Gaelectric’s Irish projects.

IowaDeptEconDevel_id1863

Helukabel_id1908
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

WomenofWind_id
UEA_id1896
JLG_id1900
Acciona_id1907
AWEA_id1886
bonfiglioli_id1913