Lough Shore Investments to make wind energy ‘Simple’ with first strategic investment

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Belfast, Northern Ireland – Lough Shore Investments has today announced a significant strategic investment in Northern Irish wind energy firm Simple Power.

Simple Power offers a new approach to small-scale on-shore renewable energy generation. Adopting a single turbine approach, Simple Power affords landowners the opportunity to generate wind energy on their own land. Simple Power plans to invest close to £100 million in Northern Irish wind energy over the next four years, producing more than 50 MW of wind energy annually by 2015.

Speaking after the announcement, Lough Shore Investments principal Danny Moore said: **“This venture ticked all the right boxes for Lough Shore Investments. We want to invest in high potential management teams and partner with them to build great businesses.*

“As a first investment, Simple Power could not fit those criteria better. Their management team is second to none; boasting individuals with a proven track record of success both here and abroad.

“In addition, it is clear the Simple Power model can compete on a world-stage. Their innovative solution is scalable, making it possible to deploy right across the UK, Ireland and mainland Europe. It possesses all the ingredients required to be a great business.

*“Simple Power is committed to helping Northern Ireland generate 40% of its energy by 2020. In order to achieve this goal, we will be looking to further develop energy possibilities in the areas of off-shore wind, biomass and hydro power. This is just the beginning.”**

Paul Carson, Simple Power CEO, also commented: *“The Simple Power model is built on a strong belief of dealing openly, honestly and fairly with landowners and farmers. They’re integral to our business model and we have no doubt this unique approach will make Simple Power the primary renewable energy source in Northern Ireland in the years to come.

*We’re delighted to partner with Lough Shore Investments. Simple Power is setting out on a journey to harness the vast renewable energy potential that exists in Northern Ireland. The experience and knowledge within Lough Shore can only help this pursuit.We’re looking forward to getting started.”**

ENDS

22-02-2011

Notes to Editors:

  1. For further background and comment on Lough Shore Investments please visit www.loughshore.co or alternatively http://blog.loughshore.co
  2. For further background and comment on Simple Power please visit www.simplepower.co

  3. For media enquiries please contact the Lough Shore Investments office on +44 (0) 28 9043 6651 or alternatively on office@loughshore.co

Contact: Kieran O’Connor Lough Shore Investments LLP Tel: 44 (0) 28 9043 6651 Email: office@loughshore.co Website: www.loughshore.co