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BNP Paribas buys 20 MW Irish wind farm

A fund managed by BNP Paribas Clean Energy Partners GP Ltd has bought Gortahile Windfarm Ltd which owns and operates a 20 MW wind farm in Laois, Ireland, from ABO Wind Ireland Ltd.

The Gortahile wind farm began commercial operation at the end of August 2010 and it is forecast to produce circa 70 GWh of electricity per year.

"This acquisition represents the cornerstone of a larger portfolio that we intend to build in Ireland," says Joost Bergsma, CEO of the fund.

"Ireland is a very attractive renewables market for financial investors because of its strong wind regime, its robust REFIT support policy, and its commitment to achieving its 2020 renewable energy target."

The fund aims to acquire additional assets of wind generation capacity in Ireland over the course of its investment period.

"We are securing a deep pipeline of projects with a number of developers and owners to enable us achieve our target investment size in Ireland," says Francesco Cacciabue, CFO and Investment Director. "We target both operational wind farms and wind farms under construction."

The Gortahile wind farm acquisition is the first in a partnership agreement between BNP Paribas Clean Energy Partners GP and ABO Wind in which the parties have agreed to transact 50 MW of generation capacity over the next 16 months.

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