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.
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.”
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