Gaelectric acquires interest in two wind farms in Ireland


Gaelectric acquires interest in two wind farms in Ireland

acquires wind farms

 
An Irish renewable energy company called Gaelectric has acquired interest in two wind farms, one in Kilkenny and the other in Tipperary, Ireland.
 
Gaelectric will own 100% of the Ballybay Wind Farm (13.8MW of wind power), and 50% of the Cnoc Wind Farm (11.5MW of wind power). These two wind farms, along with the Foyle project, form the Blanchfield Cluster, a 34MW underground grid connection to Thurles, Ireland.
 
According to their press release, “Gaelectric will be the technical and commercial leader for the Blanchfield group of projects and grid connection, managing the financing, construction, operation and maintenance of the entire Blanchfield cluster and all three projects with a target to be operational by Q3 of 2016.”
 
Head of Gaelectric’s Wind Energy Division, Barry Gavin said:
 
“The pace of delivery of our wind energy pipeline in Ireland is accelerating. We are building out projects which we have brought through the development cycle internally and have added to these with acquisitions at different stages of development where we believe we can add value. Our target is to achieve a minimum of 400 MW of spinning assets by the end of 2017. We will do this through commissioning our own projects and with further acquisitions. At this point on the journey, we have made good progress and are in active discussion on a number of suitable acquisition prospects to meet the balance of our target.”
 
Gaelectric has an estimated 320MW of wind assets, with about half of this amount currently generating power, and the other half to be operational by 2017.
 

Posted By Sally on March 30, 2015 | 0 Comment

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