Gaelectric eyeing more acquisitions

Irish renewable energy group Gaelectric has announced two new wind farm purchases — estimated at a total cost of between €10m and €15m — and is negotiating on “a number” of further acquisition targets.

The Dublin-based energy generation and storage group was established only a decade ago and already with a presence in Britain and the US, as well as Ireland. Its target is to have a minimum of 400 megawatts of assets in its portfolio by the end of 2017.

It currently has 150mw of generating assets across six projects on the island of Ireland, while a further 40mw is in place via “shovel-ready” projects, with grid connections and full planning approval in place.