Renewable energy company Gaelectric has raised €90 million in new funding.

The Dublin-based company will use the funds to invest in wind energy projects, among which is a wind farm in Derry for which it has secured a €56 million debt facility from the German Landesbank Nord/LB.

Most of the remaining €34 million is made up of a €30 million investment by Bluebay Ireland Corporate Credit - a substantial proportion of which comes from the National Pensions Reserve Fund.

In March the company raised €65 million to help fund its portfolio of on-shore wind energy projects.