The portfolio includes 13 projects with a total installed capacity of about 164MW, which are expected to be developed by the end of 2017.
The funding was provided by Proventus Capital Partners and RBC Capital Markets, whiles McCann Fitzgerald assisted the company during the transaction.
Commenting on the transaction Gaelectric USA president Eamonn McGrath said that the funding will support the company’s aim to develop 164MW onshore wind energy portfolio, which represents an estimated cost of about $325.
"We will also build on our success in the UK and Irish markets by adding another 510 MW of Procurement Category 1 wind projects from Montana to California for delivery from 2014 to 2017 to Gaelectric’s growing renewable energy portfolio," added McGrath.
In addition to Proventus, the company has also received a senior debt package that was structured by Nord.
Currently, Gaelectric is developing an energy storage project by employing Compressed Air Energy Storage technology at a site near the town of Larne, on the northeast coast of Ireland, through its energy storage division, Gaelectric Energy Storage.
