Canada - Airtricity unveils Canadian wind farm deal

First foray into Canada with acquisition of Gale Force Energy (GFE)

Eddie O’Connor, chief executive and founder of international renewable energy company Airtricity, last week announced his first foray into Canada with the CAN$10 million (£4.7m) acquisition of Gale Force Energy (GFE). O’Connor said he was pleased with the purchase of GFE, “given their reach in Canada, a key market for us”.

GFE has more than 30 wind farm projects in development across the country. The deal will allow it to benefit from Airtricity’s capital and expertise. O’Connor is convinced that consolidation in the industry is vital to allow small wind power developers to succeed in the increasingly competitive wind energy market. Declan Flanagan, general manager of Airtricity’s North American operations, said the deal was “just the beginning” of the firm’s plans for growth in Canada and that Airtricity hopes to announce more partnerships and acquisitions in the coming year.

Under the terms of the deal, GFE’s senior management and development team will stay in place and the company’s head office will remain in Toronto. Airtricity operates wind farms in Ireland, Scotland and the United States, and also supplies green energy to 45,000 commercial customers in Ireland and Northern Ireland.
Edited by Trevor Sievert, Online Editorial Journalist
wind energy, renewable energy, wind turbine, wind power, wind farm, rotorblade, onshore, offshore

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