Renewable energy company Airtricity has raised an extra €8m from a private placing announced last month. This values the company at €258m.
Airtricity says the amount raised was increased from €80m to €88m due to the 'keen interest' of existing shareholders to continue their investment.
The company says Quinn Group has invested €34.5m. Based on the total valuation, Quinn now has around 13% of Airtricity.
The new funds will be used to continue the construction of Airtricity's pipeline of wind farm sites in the UK and Ireland, and to fund the continued international expansion of the company and the development of new wind farm sites in Europe and the US.
Infrastructure group NTR has maintained its 51% stake, investing just under €45m. Existing private investors contributed €8.6m.
