Gaelectric acknowledged that it will need an estimated £215m to build out the full 164MW it intends to bring online by 2017, most of it in Northern Ireland.
But the fundraising round opens up “a range of strategically important options” for the developer, which has 18MW under construction and due on line by the end of the month.
The funding was led by Swedish group Proventus Capital Partners, which provides private corporate loans to mid-sized growth companies, and bolstered by a senior debt package from Germany’s Norddeutsche Landesbank.
As
