Huge windfall for Irish renewable energy firm
Mainstream, the renewable energy company founded by former Bord na Mona and Airtricity chief executive Eddie O’Connor, is set to share in a payday of more than £100 million after securing planning permission for a giant wind farm off the British coas
Authorities in Britain green-lit the project before Christmas, but the payout from joint venture partner Dong Energy was triggered by the expiry of the period for complaints against the project, which passed last week.
Dong Energy, a Danish utility and major backer of offshore wind power schemes, is 18 per cent owned by US investment bank Goldman Sachs. It is understood that the cash injection will be used to service existing debt at the company,...
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