Irish energy firm raises €160m for wind farm

An Irish energy company has managed to raise €160 million (£139m) worth of investment to support a wind farm in the country. Cash for the 42.8MW Leitir Gungaid project located […]

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By Priyanka Shrestha

An Irish energy company has managed to raise €160 million (£139m) worth of investment to support a wind farm in the country.

Cash for the 42.8MW Leitir Gungaid project located on the Atlantic Coast in Galway was provided by Norddeutsche Landesbank and DNB Bank.

The wind farm joins Invis Energy’s 44.35MW project in the Stack’s Mountains, which together are expected to provide enough electricity to supply 60,000 households and save 145,000 of carbon emissions every year.

Michael Murnane from Invis Energy said: “We are delighted to complete the project financing for Leitir Gungaid. In addition to the 87MW under construction, Invis Energy has a project pipeline of almost 300MW of generation capacity, which is scheduled to be built over the next three years and we have plans for further expansion beyond that.”

The wind farm is expected to start operating in mid-2014.