Gaelectric Secures $84 Mil from Proventus Capital for Wind Projects

March 25, 2013

Renewable energy generation and energy storage group, Gaelectric, raised $84 million in funding for its portfolio of on-shore wind energy projects in Ireland. The portfolio comprises 164 MW of generation capacity across 13 projects Ireland which the Group plans to develop out by 2017, representing a total investment in the region of $325 million. Gaelectric is developing a further pipeline of 510 MW of wind energy projects in Montana to supply power markets in the Pacific North West and California within the 2014 to 2017 timeframe.

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