ESB and Coillte Arrange Loan to Build 35-Megawatt Wind Project

(Bloomberg) — Ireland’s Electricity Supply Board and the
national forestry-management company Coillte are borrowing from
Bank of Ireland and Norddeutsche Landesbank Girozentrale for a
70 million-euro ($76.7 million) wind project.

The 35-megawatt Raheenleagh Wind Farm will be financed
largely through long-term bank debt with the remainder funded
through equity from ESB and Coillte, which each own half,
Dublin-based ESB said Tuesday in a statement on its website.

Construction of the 35-megawatt facility is expected to
start imminently and it should begin producing power in October
2016. Ireland has set a target of getting 16 percent of its
electricity from renewable sources by 2020.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade

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