Advertisement

Chinese energy giant buys wind farms near Carrickmore

windfarms030115mc9

Two wind farms under construction near Carrickmore have been acquired by a major Chinese energy corporation.

CGN Europe Energy, the renewable energy arm of China General Nuclear Power Group, have bought 14 wind farms across the island of Ireland from Gaeletric Holdings.

The deal includes projects at Cregganconroe and Inishatieve Road which are under construction.

Advertisement

Six 101 metre turbines are being erected as part of the Cregganconroe wind farm on the Loughmallon Road between Carrickmore and Pomeroy.

Work is also ongoing nearby off the Inishatieve Road, between Carrickmore and Galbally, where five wind turbines are joining a landscape already dotted with turbines.

The local projects are among seven from the North included in the sale of 14. The assets are believed to be worth around €350m.

The deal represents the Chinese firm’s first acquisition in Ireland.

Gaelectric have said the company will continue to provide “asset management and power-offtake services” to CGNEE for the 14 wind farms post their sale.

Barry Gavin, CEO of Gaelectric Holdings plc, described CGNEE as “a very significant new player in the Irish, European and international energy market”.

He added, “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.”

Advertisement

AN England-based wind energy developer has successfully overturned a decision to refuse planning permission for three new turbines near...

Employees from Alexander Civil Engineering had packed up and left the site at Gortfinbar after two masked gunmen visited...

More than 1,000 letters of objection have been lodged over what is proposed to be the North’s biggest ever...

Top
Advertisement

Ulster Herald is published by North West of Ireland Printing & Publishing Company Limited, trading as North-West News Group.
Registered in Northern Ireland, No. R0000576. 10-14 John Street, Omagh, Co. Tyrone, N. Ireland, BT781DW