John Laing closes financing for 35 MW wind farm in Ireland

John Laing Investments has closed financing for the 35 MW Glencarbry wind farm in Ireland. Nord/LB arranged the Fnecessary financing for the project.

Nordex will supply with the wind turbines for the construction of the project. The company will be installing a total of 12 turbines to for its customer.

The site is located close to the village of Hollyford in County Tipperary. Nordex will install seven N100/3300s and five N90/2500s wind turbines to Glencarbry.

With an average wind speed of 8 m/s, it is predicted the turbines will produce 118 gigawatts of electricity a year. Turbine deliveries are due to commence in October this year. Following installation, Nordex will service the turbines for a period of 15 years having signed a Premium Service Contract with John Laing.

Together with Glencarbry and other projects currently under construction, Nordex will be increasing its installed capacity in Ireland to more than 700 MW. With its substantial potential for wind energy the Emerald Isle is an important market for the manufacturer, which is one of the leading suppliers of wind turbine generators there.

Ross McArthur, Managing Director of Renewable Energy for John Laing, said: 

”Glencarby is an important investment for John Laing Group and we’re pleased  that for the first time the turbines for one of our projects are being supplied and maintained by Nordex.  We’re looking forward to seeing the project fully operational in early 2017 and to the prospect of working together and delivering further projects with Nordex in the future.”

Heiko Ludwig, Managing Director of Energy Europe for Nord/LB, said: 

“We are very pleased to have been able to support our client John Laing Group with structuring the non-recourse debt package for the Glencarby project as well as providing the financing for a project using Nordex turbine technology in the Irish market.”