150 jobs at risk in Renewable Power project in Mayo
July 25
11:01
2016
The construction of a €180m Mayo Renewable Power project in Killala has been suspended due to financial difficulties. The company issued a suspension notice to its main contractor last week.More than 150 jobs are now at risk in the project which Taoiseach Enda Kenny launched at the end of 2015.
Mayo Renewable Power said it had suspended its main contractor due to an inability to “conclude the financing”.
The company today said its US backers had already spent €90m on the project and that this was beyond the equity already committed.
Mayo Renewable Power says it hopes to be able to review its options so it will be in a position to complete work on the site.
The development was also being backed by a number of banks and was due to be operational by 2017.
Jobs for up to 350 people were promised during the two-year construction phase, with a full-time staff of up to 30 on completion and indirect employment for over 100.
