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.”
Gaelectric has completed and will officially open its 12MW Monnaboy wind farm in Northern Ireland today. This new wind farm has created employment.
The £16.8m Derry project features four Enercon E-82 turbines with blade tip heights of 121.3 metres.
Some 25 full and part-time jobs have been created during Monnaboy’s development and construction, Gaelectric said.
The developer’s head of corporate affairs Patrick McClughan said: “The 12MW Monnaboy wind farm development is the third renewable energy project that Gaelectric has commissioned in Northern Ireland.
“This official opening marks yet another important milestone for our business and further strengthens Gaelectric’s platform in the energy market.”
He added: “Our total permitted portfolio now stands at 140MWs in Northern Ireland and represents a total investment of approximately £170million. This consolidates Gaelectric’s position as the largest indigenous renewable energy company in Northern Ireland, and we are proud to make a significant contribution to Northern Ireland’s renewable energy targets.”