Tuesday 26 September 2017

One51 buys stake in Pioneer

Nick Webb

Nick Webb

THE One51 group, led by Philip Lynch (above), has taken a stake in Pioneer Green Energy as it increases its exposure to renewables in the face of soaring oil prices.

The company has also bought into Island Renewable Energy, spending more than €5m on the two stakes.

One51 has been hit by the falls in the value of its shares in NTR but its stake in Irish Continental Group has risen sharply in value as Mr Lynch rapidly reduces One51's debt levels.

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