News / Invis Energy completes Irish wind project financing

Invis Energy completes Irish wind project financing

🕔 August 7, 2013
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Invis Energy, one of Ireland's leading independent producers of electricity from onshore wind, announced in July the completion of project financing for its second Irish wind farm project. According to Bloomberg, the company raised €160 million ($210 million)

HgCapital LLP and Craydel Group owns Invis Energy.

Leitir Gungaid, is a 42.8MW project located on the Atlantic Coast in Galway, and which is due to become operational in mid-2014.  Construction and term project finance loan facilities are provided by Norddeutsche Landesbank (Nord LB) and DNB Bank.  The project will use 17 Enercon E82 turbines.

Leitir Gungaid joins Knocknagoum, a 44.35MW project located in the Stack's Mountains in County Kerry, in Invis Energy's portfolio of wind farm projects. Knocknagoum is the largest onshore wind farm to be built in Ireland this year and will be operational in late-2013. Together, Leitir Gungaid and Knocknagoum represent an investment of more than €160 million, and when operational will provide enough electricity to supply 60,000 households and will save 145,000 tonnes of CO2 annually.

Michael Murnane, of Invis Energy said:

"We are delighted to complete the project financing for Leitir Gungaid.  In addition to the 87MW under construction, Invis Energy has a project pipeline of almost 300MW of generation capacity, which is scheduled to be built over the next three years, and we have plans for further expansion beyond that."

Source: Invis Energy & others

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