The Financial institution of Eire and the European Funding Financial institution (EIB) are to finance a €100m wind farm in Cloncreen, County Offaly, east Eire.
The 75MW venture, which is being spearheaded by partially state-owned agency Bord na Móna, will provide as much as 55,000 houses with renewable power by the top of subsequent 12 months.
Christian Kettel Thomsen, EIB’s vp, said: “The EIB is dedicated to serving to to speed up renewable power technology throughout Eire and around the globe.
“The financial institution is happy to offer €50m for Bord na Móna’s newest new wind farm at Cloncreen, alongside Financial institution of Eire, that may make a major contribution to making sure that 70% of Eire’s power is from renewable sources by the top of the last decade.”
JP McGrath, Bord na Móna’s chief monetary officer, mentioned: “Bord na Móna is within the enterprise of local weather options, utilizing our land and renewable power sources to create a cleaner, more healthy setting for individuals right here and in addition to assist Eire attain web zero by 2050.”
The venture varieties a part of Bord na Móna’s goal to produce a 3rd of Irish houses with renewable power by 2030.
Picture courtesy of Bord na Móna