Gaelectric has completed a €38m financing deal to build the final two wind farms in its 34.5MW Blanchfield cluster in the Irish midlands.
AIB has been tapped to bankroll the cluster’s largest project, the 13.8MW Ballybay wind farm. The Kilkenny site will feature Enercon E-82 turbines.
The bank will also finance the 9.2MW Foyle wind farm, also in Kilkenny. Gaelectric is managing the project on behalf of developer ART Generation.
Foyle will also feature Enercon E-82s to be delivered later this year.
Both wind farms along with the 11.5MW Cnoc project in Tipperary – a JV between Gaelectric and Cnoc windfarms which features E-70s – form the Blanchfield cluster.
All three wind farms will be commissioned in the first half of 2017 and will connect via an underground cable to the substation at Thurles in Tipperary.
Gaelectric chief operating officer Barry Gavin said: “We acquired our interests in the Blanchfield Cluster around the middle of 2015. We are very pleased to have concluded financing agreements to fund construction just 12 months later.”
Image: Gaelectric’s Dunbeg wind farm (Gaelectric)
