Renewable energy firm Gaelectric has concluded agreements on a total €38 million financing package for the development of two wind farms in County Kilkenny.

Ballybay was acquired by Gaelectric in 2015, whereas Foyle is being managed by Gaelectric on behalf of Art Generation Limited. Both wind farms, together with Cnoc Wind Farm near Grange in Co Tipperary, include the Blanchfield Cluster which feeds into a 34 MW underground grid connection located near Thurles in Co. Tipperary.

Ballybay Wind Farm, located near Tullaroan in Co. Kilkenny, will comprise six Enercon turbines and will generate 13.8 MW of electricity, sufficient to meet the demand of approximately 9,300 homes. Foyle Wind Farm, located approximately 2.5km to the south east of Ballybay, will comprise four Enercon turbines and will generate 9.6 MW of electricity, sufficient to meet the demand of approximately 6,500 homes. Both wind farms will become operational during Q2 of 2017.

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Gaelectric Chief Operating Officer, Barry Gavin, said: "We acquired our interests in the Blanchfield Cluster around the middle of 2015. We are very pleased to have concluded financing agreements to fund construction just 12 months later. In the last four months, we have also energised three windfarms with a total installed capacity of 21MW, at Leabeg in Co Offaly, Roosky in Co Roscommon and Monnaboy in Co Derry. Our operating and 'under construction' wind portfolios now comprise about 240 MW across 16 projects. We expect that the momentum in our wind business will continue."

The total financing package is being provided by Allied Irish Banks.

(CD)