Bord na Móna and Coillte have agreed terms on a 50/50 joint venture to develop a 64MW windfarm, with a total investment of €90million, at Sliabh Bawn, Co Roscommon.
The 20 turbine windfarm is expected to become operational in early 2017 and will supply renewable energy to 40,000 homes.
Bord na Móna constructed Ireland’s first wind farm at Bellacorrick, Co Mayo in 1992. The company currently has a number of large-scale operational windfarms and others in development across Ireland. Bord na Móna is developing wind energy and other renewable energy assets to reduce Ireland’s dependency on unreliable energy imports and provide the renewable energy supply required by many major international companies.
Mike Quinn, CEO of Bord na Móna said “Bord na Móna is delighted to bring its considerable expertise to bear on this exciting project in Sliabh Bawn. We are one of the most experienced developers of wind energy in Ireland and this JV project fits well within our extensive portfolio of renewable energy generation assets across Ireland. Co Roscommon is an intrinsic part of the Bord na Móna heartland of communities and employees, so it’s important for us that this project is delivered in a way that maintains and enhances these good relationships. I want to congratulate the joint venture teams from both companies for the final conclusion of this agreement which will deliver benefits both for the community near Sliabh Bawn and for Ireland’s decarbonisation agenda.”
Fergal Leamy, CEO of Coillte said: “I am delighted that we have concluded the Joint venture funding arrangement on this very exciting wind project. Coillte’s ambition is to be the best forestry and land solutions company in Europe. Today’s announcement is a clear example of our two companies identifying areas of mutual benefit and executing to maximise the economic value to our shareholder. We are looking forward to working with Bord na Móna on the Sliabh Bawn wind farm in a partnership which enhances our close working relationship.”
This joint venture is fully aligned with the Government’s desire for Coillte and Bord na Móna to work closely in areas of common interest.