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Gaelectric cleared for North wind farms

Thursday, October 04 10:09:34

Irish renewable energy group, Gaelectric, today said it has secured planning approval on further 25 MW of wind projects in the North.

the company is currently raising E60 million from capital markets to fund a series of developments across the island of Ireland.

The planning is for a further two on-shore wind energy projects at Smulgedon, north east of Dungiven in Co. Derry, and at Monnaboy on Loughtermore Mountain, also in Co. Derry.

Both projects total to an additional 25 MW of consented wind power and bring Gaelectric's on shore portfolio with planning approvals on the island of Ireland to 130MW.

The company has begun a significant build out programme to commission 150 MW of wind generation by 2016. Its project at Skrine in Co. Roscommon was commissioned in June 2011. Its Carn Hill project outside Belfast (13.8 MW) is currently under construction and will be commissioned in Q1 2013.

Commenting on its most recent planning approvals in Northern Ireland, Group CEO Brendan McGrath said: "We are delighted with the positive outcomes from the planning process in Northern Ireland which further de-risks our onshore portfolio in Ireland. We have now reached a stage of maturity in this end of our business where most of our projects are either at financial close, construction ready, or have consents in place, including firm grid offers."

"We are particularly pleased to be in position to offer our investors - current and future - a tangible renewable energy opportunity with clear visibility of projects and future opportunities. This is very gratifying to our internal team that has been working diligently on delivering these projects, and to our backers."