Ireland’s Electricity Supply Board and the national forestry-management company Coillte are borrowing from Bank of Ireland and Norddeutsche Landesbank Girozentrale for a 70 million-euro ($76.7 million) wind project.
The 35-megawatt Raheenleagh Wind Farm will be financed largely through long-term bank debt with the remainder funded through equity from ESB and Coillte, which each own half, Dublin-based ESB said Tuesday in a statement on its website.
Construction of the 35-megawatt facility is expected to start imminently and it should begin producing power in October
2016. Ireland has set a target of getting 16 percent of its electricity from renewable sources by 2020.