Scottish Equity Partners invests in Irish wind farm

Scottish Equity Partners (SEP) has completed an investment into a multi-million euro Irish wind farm development.

Scottish Equity Partners said Ireland is a 'key market' for wind power. Picture: John Devlin
Scottish Equity Partners said Ireland is a 'key market' for wind power. Picture: John Devlin

The investment firm has provided project finance to back the construction of the 4.6 megawatt (MW) Curraghderrig wind farm, which is valued at some €8.7 million (£7.6m).

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SEP has made the investment through its Environmental Capital Fund (ECF), which is targeted at infra­structure projects in the energy sector.

Curraghderrig is located on the south-west coast of Kerry, near the village of Asdee, and will operate two 2.3MW turbines, each with a height of 64 metres. They are due to be operational by September and will power more than 3,100 homes.

Peter Bachmann, a director in SEP’s infrastructure team, said: “Ireland is a key market for the development of new wind assets.

“The transaction represents ECF’s first investment in Ireland and the start of a development partnership with Rengen designed to grow ECF’s portfolio of high-performing wind assets across both Ireland and the UK.

“At Curraghderrig we will have market-leading wind turbines in a proven high-wind location.”

Rengen Power boss Eugene Keane added: “This is an important milestone in our developing relationship with the infrastructure team at Scottish Equity Partners.

“Rengen Power is now actively pursuing other greenfield and development opportunities across Ireland. We are excited about the potential of these opportunities.”