SSE to develop 800 MW wind portfolio
SSE will pay €50 million for a 50% stake in the collection of projects and will be responsible for each development up to the planning consent process.
Image for illustration purposes.
Ireland, Newbridge: SSE Renewables will be the development partner of Bord Na Móna in building an 800 MW onshore wind portfolio. Under the agreement, SSE will pay €50 million for a 50% stake in the collection of projects and will be responsible for each development up to the planning consent process. After planning consent and grid access is secured, the companies will fund the development on a 50:50 basis. If the entire 800 MW portfolio is built out, it would involve an investment of €1 billion from Bord them over 10 years. SSE was selected for the project after a tender process led by KPMG.
A breakdown of the projects included in the portfolio and their stage of development wasn’t provided, but three projects which were identified were the Lemanaghan Wind Farm in north-west Offaly, the Littleton Wind Farm in Tipperary, and the Garryhinch Wind Farm on the border of Laois and Offaly. The three could have a combined capacity of up to 250MW.
Tom Donnellan, Bord na Móna’s chief executive, commented: “The portfolio of projects contained within this joint venture will be developed through a lease agreement at sites across Bord na Móna’s landbank. This marks yet another milestone in Bord na Móna’s transition to become one of the leading renewable energy companies in the country.”
Formal completion has been reached after the approval of Eamon Ryan, the Minister for Climate Change and the Environment, who said that such large-scale partnerships will be key in ensuring Ireland meets its 2030 emissions reductions targets. He added that many of the projects will be in the country’s midlands area, demonstrating that the region will be crucial as part of the country’s “pivot to green renewable energy”.
Source: renews.biz
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