Ireland's National Treasury Management Agency (NTMA) has agreed to fund two 30 MW projects which secured six-year frequency services contracts in August from domestic utility EirGrid. The sovereign wealth fund will provide GBP9.5 million (US$11.7 million) for the energy storage facilites.
NTMA will now subscribe for new ordinary shares in Gore Street for a total investment equivalent to 40% of acquisition and construction costs of the storage projects.
The projects, located in Country Kildare and County Wexford, are expected to be fully operational by September 2021. Gore Street is set to continue the tender process on EPC, with plans for selection by Q1 2020.
Country updates
-
-
September 22, 2019
Hanwha, Lumcloon Energy starts the construction of 200 MW Storage battery in Offaly
Hanwha Energy Corp and Lumcloon Energy Ltd have started the construction of 200 MW of energy storage systems in Ireland’s County Offaly. The project consists of two 100 MW lithium-ion storage u...
Read more -
September 20, 2019
NTR, Nord/LB close financing for two wind projects in Ireland
NTR has closed two project debt facilities with Nord/LB for a combined EUR45 million (US$49.7 million). The debt facilities are being used to finance the construction of two wind farms in the Republic...
Read more -
September 11, 2019
Greencoat Renewables invests in 20 MW Gortahile wind farm in Ireland
Greencoat Renewables has entered into an agreement to acquire the 20 MW Gortahile wind farm situated in Ireland from Glennmont Partners. The transaction is expected to close on 18 September and will...
Read more -
September 04, 2019
RES acquired a planning permission for 14 MW Barr Cregg wind farm in Northern Ireland
Renewable Energy Systems Ltd (RES) has acquired planning permission for the 14 MW Barr Cregg wind farm project that be builtat Barr Cregg, near Derry, Northern Ireland. The facility consists of seven...
Read more -
August 16, 2019
Neoen completes acquisition of 53.4 MW of wind projects in Ireland
Neoen has announced the acquisition of eight wind farms in operation in Ireland, with a total capacity of 53.4 MW. Neoen is acquiring full ownership of these assets, which were previously owned by the...
Read more
