Irish wind farm secures €8.7m investment

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Irish wind farm secures €8.7m investment

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A wind farm in Ireland has secured €8.7 million (£7.6m) to fund its construction.

Scottish Equity Partners (SEP) is providing the funding to developer Rengen Power for the 4.6MW Curraghderrig wind farm.

Located on the south west coast in Kerry, near the village of Asdee, it is expected to provide renewable energy to power more than 3,100 homes.

It will also save around 5,600 tonnes of CO2 every year – equivalent to the emissions of 2,100 cars.

Irish utility Vayu has entered into a power purchase agreement to buy all the electricity produced at the wind farm.

Peter Bachmann, a Director in SEP’s Infrastructure team said: “Ireland is a key market for the development of new wind assets, particularly in light of the supportive mechanisms in place under the government’s REFIT system.”

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