BNP buy Irish wind farm
An investment fund managed by BNP Paribas Clean Energy Partners has bought an Irish wind farm.
The deal sees 100% of Gortahile Windfarm, which owns and operates a 20 megawatt wind farm in County Laois, bought from ABO Wind Ireland.
The Gortahile Windfarm began work at the end of August 2010, it is forecast to produce around 70 GWh of electricity per year, enough to meet the annual needs of more than 11,200 households.
"This acquisition represents the cornerstone of a larger portfolio that we intend to build in Ireland," said Joost Bergsma, CEO of the fund.
"Ireland is a very attractive renewables market for financial investors because of its strong wind regime, its robust REFIT support policy, and its commitment to achieving its 2020 renewable energy target."
The Gortahile Windfarm purchase is the first in a partnership agreement between BNP Paribas Clean Energy Partners and ABO Wind, in which the parties have agreed to transact 50 megawatts of generation capacity over the next 16 months.