Gaelectric, the renewable energy and energy storage group, has reached financial close on five windfarms in Northern Ireland. Debt of £67 million, arranged through German bank
Nord/LB on an 18-year term, will be a major component of the total £74 million cost of the windfarms.

The Monnaboy, Cloonty, Inishative, Corby Knowe and Cregganconroe windfarms will have a total installed capacity of 51.5MW. Monnaboy (12MW) is already operational, and all the windfarms will be in operation by the end of 2016.