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Gaelectric has raised US$ 84 million in funding for its portfolio of onshore wind energy projects on the island of Ireland.

The portfolio comprises 164MW of generation capacity across 13 projects which the group plans to develop by 2017, representing a total investment in the region of US$ 325 million. Gaelectric has also concluded a framework agreement with Enercon which will see Enercon technology deployed on all the Gaelectric sites covered by the current funding round for its Irish projects. The funding provided by Proventus Capital Partners has been complemented by a senior debt package structured and provided by Nord LB. This debt financing has been used to finance the construction of a 13.8MW wind energy project in Northern Ireland which is currently being commissioned by Gaelectric at Carn Hill, Co Antrim.
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