06/23/2018

Asper powers ahead on Irish Wind

London-based Asper Investment Management and the Craydel Group announced that financial close of a 35MW onshore wind farm in county Galway took place earlier this week. The project is the 6th wind farm financed together in Ireland by the Invis Energy partners.

Image: Asper

The Galway project will see the installation of 11 Siemens 3.2MW turbines, generating 118GWh p.a. of clean energy. Asper is providing equity financing to the project, and raised a €58m senior debt facility from NordLB. Dublin-based A&L Goodbody and Ionic Consulting advised respectively on the legal and technical aspects of the transaction.

In the last few days, NordLB has also been mandated to work on financing Invis Energy’s next project in the portfolio, a 43MW project in county Mayo.

The projects were developed, are built and will be operated by Invis Energy – which Asper and the Craydel Group have built together, with c.300MW of operating or in construction projects and on track to reach 360MW by the end of 2018. Invis Energy’s vision is to be at the forefront of developing, constructing and operating large-scale, cost-effective, renewable energy projects.

Working with strategic partners and industry-leading management teams to build large-scale businesses like Invis Energy in Ireland and Vasa Vind in Sweden is a core pillar of Asper’s strategy for its second sustainable energy fund.