Energia agree finances for €145 million Donegal wind farm
Facility in Meenadreen to power 70,000 homes when complete
Energia Renewables has reached financial closure on its €145 million wind farm in County Donegal.
The Meenadreen Extension will power 70,000 homes via 38 turbines capable of generating 255 gigawatt hours of electricity every year with an €11 million substation also constructed to boost the electricity network across Donegal.
‘A significant milestone’
Energia’s operational wind farm portfolio combines power from its own farms with those from third parties contracted to Energia via power purchase agreements.
The total capacity of the portfolio is 795MW but this is expected to grow by a further 300MW once all projects under development are completed.
This includes the Meenadreen Extension which Peter Baillie, Managing Director of Energia Renewables, said had passed a “significant milestone” in reaching financial closure.
He described the move as a “positive step forward for renewable energy in Ireland” and one which would help the firm meet their goal of supplying 1,000MW of green power by the end of 2015.
He explained that wind farms “bring significant benefits to the local economies”; such as infrastructure improvements, job creation and better rates for local authorities.
Energia currently meets the electricity and gas needs for 23% of the Irish business market – around 60,000 customers.
As much as €300 million has been invested into wind farms since 2008 while the company’s entire portfolio provides 25% of Ireland’s total wind power.
The firm entered the residential gas and electricity market in Ireland in January 2014, with Energia Renewables establishing itself among Ireland’s leading providers of sustainable green energy.
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