Irish investors in €85m windfall from French OpenHydro deal

UPDATE: French company DCNS today confirmed it has agreed to take control of Irish tidal energy company OpenHydro, in a deal understood to be worth around €85 million for Irish shareholders.

22nd January, 2013
James Ives, OpenHydro chief executive, and Brendan Gilmore, chairman.

French naval defence company DCNS today confirmed it has agreed to take control of Irish tidal energy company OpenHydro, in a deal understood to be worth around €85 million for Irish shareholders.

DCNS increased its 11 per cent holding to almost 60 per cent, spending €130 million on the acquisition and capital investment. Sources said the DCNS investment was in the region of €45 million.

Businessman and OpenHydro founder Brendan Gilmore stands to be the main beneficiary...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago