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Airtricity founder starts new solar firm


Published: Feb. 20, 2008 at 8:52 PM
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LONDON, Feb. 20 (UPI) -- The founder of Ireland's Airtricity is starting another renewable energy firm.

Eddie O'Connor recently sold Airtricity for nearly $3 billion to Scottish and Southern Energy and Eon and resigned from the administrative board. Now several area newspapers, including the Irish Times and the Daily Mail, are reporting he plans to return to the alternative energy market.

One reported name for the new venture is Mainstream Renewable Power, which will focus on developing big projects in Europe and elsewhere, possibly ending up in competition with Airtricity, though he said he was never asked to sign an agreement to prevent him from competing with the new owners, but he will not be allowed to recruit staff directly from his old company.

O'Connor has reportedly lined up JP Morgan, Barclays Capital and Goodbody for his new solar energy company, established days after he left Airtricity.

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