Irish wind developer gets $29m funding boost

Wind Turbines working at Munster Joinery, Ballydesmond.Photo:Valerie O'Sullivan

Irish micro-wind developer Wind Energy Direct (WED) has bagged a €20m ($28.9m) investment package, allowing it to press on with 75MW of projects for heavy energy users in Ireland and the UK.

Half the sum will come from a group of private investors and the other half from ESB Novusmodus, an investment fund launched in 2008 by Irish utility Electricity Supply Board to buy equity stakes in early-stage renewables and energy-efficiency start-ups.

WED says it intends to sink €100m into on-site wind installations over the next three years, targeting energy-intensive customers such as factories, hospitals and data centres. The company offers to erect wind turbines for clients at no upfront cost.

Founded in 2006, the Limerick-basd company built its first installation – comprising Log in to read complete article.

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