Invis Energy Raises 160 Million Euros for Wind in Ireland

Invis Energy, an Irish electricity producer, raised 160 million euros ($210 million) to invest in two wind farms in western Ireland as the country boosts clean-power generation.

Norddeutsche Landesbank Girozentrale and DNB Bank ASA provided funds for the Leitir Gungaid project in Galway, due to start operating in mid-2014, according to an e-mailed statement today from HgCapital LLP, which owns Invis with Craydel Group. The second wind farm, in County Kerry, will start this year.

The projects, with a combined capacity of 87 megawatts, will provide enough power for as many as 600,000 homes. Invis has plans for almost 300 megawatts of further capacity over the next three years, and more after that, Craydel Managing Director Michael Murnane said in the filing. Invis declined to elaborate.

Ireland had 1,738 megawatts of wind capacity installed at the end of last year, according to the European Wind Energy Association. That accounted for about 13 percent of the country’s total electricity consumption, ranking Ireland fourth among the European Union’s member states.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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