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Airtricity managers, staff up stake to 18pc.
(From Irish Independent)
MANAGEMENT and staff at green energy company Airtricity have stumped up [euro]1.1m tobring their stake in the firm to 18pc.
This was part of a [euro]28m fund-raising by the firm.
The fund-raising values Airtricity at [euro]128m, which means that managers and staff now have a stake worth [euro]23m in the wind energy company.
The funds will primarily be used to continue to build out Airtricity's pipeline of wind farm sites in Ireland, Scotland and phase one of the Arklow Bank project, which is the world's largest offshore wind farm.
Funds will also be allocated to securing and developing new wind farm sites in Ireland,the UK and early stage development activity in the US, the company said.
The greater part of the ...
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