Extra €14.3m invested in Airtricity

NATIONAL Toll Roads has invested an extra €14.3 million in renewable energy firm Airtricity to maintain its majority shareholding after the company raised €28m in an equity placing.

The placing, through NCB Corporate Finance, 1.6 times oversubscribed, values the wind energy company at €128 million post-investment.

“The funds will primarily be used to continue to build Airtricity’s pipeline of consented wind farm sites in Ireland, Scotland and Phase I of the Arklow Bank project, which is the world’s largest consented offshore wind park.