Gaelectric Gets Financing for Wind Farms in Northern Ireland

Gaelectric Holdings Plc got financing for a 74 million-pound ($107 million) portfolio of wind power plants in Northern Ireland.

Financing includes 67 million pounds of senior debt arranged by Norddeutsche Landesbank Gironzentrale, with most of it due in 18 years, Dublin, Ireland-based Gaelectric said in an e-mailed statement. It declined to disclose the lenders.

The portfolio is expected to have a total installed capacity of 51.5 megawatts of power by the end of the year, the company said. The projects include plants in Monnaboy, Cloonty, Inishative, Corby Knowe and Cregganconroe, all in Northern Ireland.

Monnaboy was operational as of April while the others are currently under construction, Gaelectric said. Germany’s Enercon GmbH is supplying the turbines, it said.

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