HLB MCKEOGH GALLAGHER RYAN ARE EXCITED TO ANNOUNCE THE LAUNCH OF THE TULLABRACK WINDFARM EIIS INVESTMENT OPPORTUNITY
NOW ACCEPTING BOOKINGS
Following on from our successful fundraising for Kilmeedy Windfarm Ltd (circa €2m funds raised) we are now launching the Tullabrack Windfarm EIIS Investment Opportunity 2014. This medium-scale windfarm will be developed by one of our regular promoters, a senior wind sector expert with who has over fifteen years’ extensive experience in the industry.
With the removal of the High Income Earners Restriction tax relief can now be claimed on the maximum allowed investment – €150,000 – in the year of investment.
Below is a summary of the key details of the Tullabrack private placing. Please contact us for further information or to book your slot as we expect the private placing to be fully subscribed.
KEY STATS – TULLABRACK WINDFARM | |||
Investment term | 4 years | Tax relief | Up to 41% (30% + 11%) |
Maximum investment | €150,000 | Minimum investment | €5,000 |
Projected buyout price Capped on exit | €1.16 per €1 invested | Projected net cash flow* | €25,107 |
RICT expected | April 2015 | Proposed exit | Q1 2019 |
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| *Based on an investment of €50,000 | |
CLOSING DATE | 31 December 2014 | ||
ABOUT THE PRIVATE PLACING
Tullabrack Windfarm is located outside Kilrush, Co Clare. It is a six turbine (13.8 MW) development with full planning permission and an accepted Gate 3 grid connection offer. The total cost of development is estimated to be c. €21m.
The project will be developed under a fixed-price contract by Windsource Ltd, a specialist wind energy company in which the promoter is a director. The target completion date for fully operational wind turbines, supplying electricity to the grid, is Quarter 1 2016.
The Promoter plans to comply with the EIIS employment conditions to secure the full EIIS tax relief available. Based on the wind energy yield report, and the turbine output, it is projected that the Company will generate sufficient revenues to successfully exit the EIIS investors. The planned exit date is Quarter 1 2019.