Gone with the wind: Two Gaelectric bosses surrender equity to shareholders

Gone with the wind: Two Gaelectric bosses surrender equity to shareholders View Gallery
Gaelectric is selling off its windfarms but there will still be a deficit for its shareholders

Two of the renewable energy company’s founders move to improve the payout to shareholders

Two of the main shareholders in Gaelectric, the Irish renewable energy company that is currently selling off its final assets, have agreed to hand over a portion of their equity to other shareholders and return cash to the business, in an attempt to lessen the pain inflicted on burned rank-and-file shareholders.

The move by Eamonn McGrath and Barrasy Gavin, both of whom held executive positions in Gaelectric, will increase the pressure on the other founder,...

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