CGN Europe Energy buys 14 windfarms in Northern Ireland and Ireland from Gaelectric

gaelectric-13-12-2016

Gaelectric Holdings has confirmed the sale of wind farms totalling 230MW in Ireland and Northern Ireland to CGN Europe Energy, the renewable energy arm of China General Nuclear Power Group. The deal comprises 10 operating projects with a total capacity of 184MW, and a further four wind farms totalling 46MW that will be operational by mid-2017.

Seven of the wind farms are in Northern Ireland and seven in the Republic of Ireland, Gaelectric said. The company added that it will continue to provide asset management and power offtake services to CGN Europe Energy following the sale.

Gaelectric Holdings chief executive Barry Gavin said: “This agreement allows us to support the group’s balance sheet, paying down debt and creating the foundations for our other operational and development interests in the renewable energy sector.”

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