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Gaelectric, Betapond, Movidius, and Elivar Secure Funding

Gaelectric completes €65m funding round 25.03.2013 Renewable energy generation and energy storage group Gaelectric said today that it has completed a €65m funding round for its onshore wind energy portfolio on the island of Ireland. The portfolio is made up of 164 MW of generation capacity across 13 projects that the group plans to develop out by 2017. The company said the projects represent a total investment of around €250m. Gaelectric said it has also concluded a framework agreement with German turbine manufacturer Enercon which will see the latter’s technology deployed on all the Gaelectric sites covered by the current funding round. The funding is led by the Swedish group, Proventus Capital Partners ,…

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NTR loss drops to €16.2m as it focuses on wind energy

Renewable energy

Investor and asset manager of renewable projects NTR has reported a significantly lower loss of €16.2m for the year ended 31 March 2013, down from €88.8m the previous year. It said it had delivered the key components of its three-year strategic plan a year ahead of schedule by building cash reserves and consolidating the group into a “slimmer, renewable investment and asset management group, with a particular focus on wind energy”. The group’s total assets stand at €775m, further to it selling Greenstar Recycling for $180m as well as wind and solar assets and its remaining shareholding in ethanol producer Green Plains Renewable Energy. NTR expects to invest in wind…

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