Wind farm in Ireland reaches financial close

Bord na Móna, a semi-state company in Ireland, and Coillte, a state-sponsored company also based in Ireland and operating in forestry and land-based businesses, have agreed terms on a joint venture to develop a 64 MW wind farm, with a total investment of €90million, at Sliabh Bawn, Co Roscommon.

The 20 turbine windfarm which is currently in construction, is expected to become operational in early 2017 and will supply renewable energy to 40,000 homes. The two companies have secured project finance from Ulster Bank and Bank of Ireland to complete construction of the project.

Sliabh Bawn will continue to be developed in line with the original planning permission granted by Roscommon County Council and An Bórd Pleanála, with construction  due to be completed in 2017. The Sliabh Bawn Community Fund totalling €87,000 will remain intact, indexed linked and available each year over the 25 year lifetime of the wind farm to benefit local community projects and initiatives.

Sliabh Bawn Community Engagement Manager Nicola Wall said:

"Both Coillte and Bord na Móna are committed to the development of sustainable energy in Ireland and we believe the communities in which we locate our wind farms should be able to experience the benefit of that wind farm in the locality.

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. The project is on Coillte land and was originated and developed by the company as part of its commitment to renewable energy and utilising its estate to deliver on Ireland’s renewable energy objectives.