2014 was our most successful year to date for EIIS fundraising, with HLB McKeogh Gallagher Ryan exceeding our targets by raising in excess of €2,000,000 for the Tullabrack Windfarm Project.
This was a particularly impressive result considering the large quantity of EIIS projects in the marketplace in 2014, including EIIS Funds and a number of other windfarm projects. There was also a large increase in the amount of technical queries we received from investors – both on the commercial and operational side. A number of investors undertook detailed financial and technical investigations of the investment, with many demonstrating deep technical knowledge of wind farm operations, before committing to the project. Investors took great comfort from the fact the investment was professionally structured by HLB McKeogh Gallagher Ryan with our rigorous attention to detail ensuring the interests of the EIIS investors were preserved.
We vetted a number of EIIS projects in 2014 before committing to fundraising for Tullabrack. We selected Tullabrack as it was a very strong commercial project, with an experienced promoter who could demonstrate a solid track record to investors. Tax Partner Mary McKeogh (pictured right) and Tax Director Anne Hogan (pictured left) led the fundraising and structured the investment.
They are already considering new EIIS fundraising projects for 2015 as we see the demand for prudent tax-based investment projects increasing. Now that EIIS has been extended to hotels and nursing homes we expect a further increase in the number and diversity of projects fundraising in 2015. We are confident this increased supply will be matched by increased demand from tax payers as the economy recovers and traditional tax shelters expire.
Any promoters interested in EIIS fundraising or structuring an EIIS investment please contact HLB McKeogh Gallagher Ryan’s Tax Director Anne Hogan ahogan@hlbmgr.ie who would be happy to discuss the project.