May 23, 2017 1:13 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of Gaelectric Holdings Plc

Company Overview

Gaelectric Holdings Plc develops and operates renewable energy projects in wind, bioenergy, and solar on the island of Ireland and in Great Britain. It develops energy storage projects in Northern Ireland, Great Britain, North America, and the European mainland; and provides market and trading services to energy users, and farmers and businesses. The company was founded in 2004 and is based in Ringsend, Ireland.

Portview House

Thorncastle Street

Dublin 4

Ringsend,  D04 V9Y9

Ireland

Founded in 2004

Phone:

353 1 643 0800

Fax:

353 1 643 0890

Key Executives for Gaelectric Holdings Plc

Group Chief Executive Officer and Director
Chief Financial Officer
Head of Offshore Energy and Electricity Storage
Chief Commercial Officer
Head of Planning and Land
Compensation as of Fiscal Year 2016.

Gaelectric Holdings Plc Key Developments

Gaelectric Opens £13.4 Million Cloonty Wind Farm in Co. Antrim

Gaelectric opened its £13.4 million wind farm at Cloonty in Co. Antrim. The 9.2 MW wind farm is located between Derrykeighan and Bushmills. Cloonty wind farm comprises four Enercon wind turbines, with a maximum blade tip height of 110 metres. It will generate sufficient green renewable power to meet the electricity demand of over 5,000 homes on an annual basis. The wind farm will not only boost Northern Ireland’s renewable energy generation capacity, but it will also create jobs, support workforce skills and contribute to economic activity in the area. To date, the project has created over 20 full time and part time jobs during its development and construction phase.

CGN Reportedly In Preferred Bidder For Gaelectric

China General Nuclear Power Corporation is the preferred bidder for Gaelectric Holdings Plc's assets. According to the reports CGN is the preferred bidder for a majority stake in Gaelectric's wind farm portfolio on the island of Ireland. Sources told The Irish Times that CGN is in exclusive talks to take a controlling stake in the portfolio. US infrastructure investment manager I Squared Capital Advisors, LLC, was also in the list of bidders, according to the report.

Gaelectric Announces Executive Changes

Gaelectric has picked Barry Gavin as its next chief executive as the company advances plans to sell control of its wind farm assets, which have attracted bidders including Viridian's new owner. Mr. Gavin will replace fellow co-founder of the company, Brendan McGrath, as chief executive at the end of this week. Mr. McGrath will be continuing his involvement with Gaelectic in a number of special project areas. Mr. Gavin served as Gaelectric's chief financial officer before becoming chief operating officer last year as the company hired Shane Doherty, former European finance director at Paddy Power, for the CFO role.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 7, 2016
230 MW of Wind Power Assets in Ireland
 

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