Investee Company Name: Calembel Investment Limited / Killala Community Wind Farm DAC
Investment Amount: €4,500,000
Industry: Renewable Energy Production
Reason for Investment: Capital Expenditure – to construct the wind farm
The Godboody EIIS Funds have invested €4,500,000 in the Killala Community wind farm. The funding will be used to part fund the construction costs of the project along with senior debt from AIB and equity to be provided by the promoters.
Killala Community Wind Farm is located in Killala, County Mayo and will be a 17MW windfarm comprising of five Siemens turbines. The project is expected to output 52GWh of energy each year which is enough power for up to 10,000 family homes. The project has been developed over the past decade by the local community who own 100%.
With full planning approval and a grid connection secured, the construction process has commenced and it is expected that the project will be operational in the first half of 2019. The project will receive support from the REFIT 2 scheme which guarantees a minimum price for the electricity produced by the project.