Bank of Ireland and the European Investment Bank (EIB) have agreed to finance a EUR100 million (US$118 million) wind farm project by Bord na Móna that will be able to supply up to 55,000 homes with renewable energy.
The new 75 megawatt (MW) wind farm, located at Cloncreen, Co Offaly, will create up to 100 jobs during the construction phase and is due to start supplying renewable energy to the national grid next year. This is the first project under the Renewable Electricity Support Scheme to receive financing and when completed, will be another contribution towards Bord na Móna’s objective to supply approximately one-third of Irish homes with renewable energy by 2030.
Bank of Ireland and the European Investment Bank are the Mandated Lead Arrangers for the project financing and each providing 50% of the debt.
