Wind farm founder finds new direction

Eddie O’Conner, founder of clean energy company Airtricity, is hoping to set up a new wind energy business. He is planning the new venture together with Fintan Whelen, corporate finance manager of Airtricity. It is thought that the pair are being backed by Investec and JP Morgan.

O’Conner resigned as the head of wind energy producers Airtricity after the company was sold to Scottish and Southern Energy for €2.2 billion. The deal made O’Conner €45 million. A management buyout bid for the company by O’Conner and Whelan failed.

Chairman of Airtricity, Jim Barry, said that he “would like to sincerely thank Eddie for the leadership and commitment that created the great success that Airtricity is today.

“With the change of ownership, Eddie has decided that the time is right for him to devote his talents and energies into new challenges and opportunities.”

O’Conner’s position at Airtricity will be taken by Paul Dowling, the former chief operating officer at the company.