Mainstream Renewable Energy has signed a deal with Chinese wind turbine manufacturer Sinovel to invest €1.5bn over the next five years for development of wind farms in Ireland.

The Irish wind energy projects will have a total generating capacity of approximately 1,000MW.

China Development Bank is likely to provide part of the funding required for the projects, while Sinovel will supply hardware for the facilities.

Mainstream Renewable Energy and its partners target those projects, which already have planning permission and licensing but have stalled for lack of finance, The Irish Times reports.