Irish windfarm finds Scottish partner

GALWAY, IRELAND - State-owned Irish forestry company Coillte has signed a deal with Scottish and Southern Energy SSE to develop one of Ireland's largest windfarms.

The Cloosh Valley windfarm, which will have a generating capacity of 105 megawatts MW, is located near the town of Moycullen in County Galway on the west coast of Ireland. SSE and Coillte will each own a 45 stake in the project, which has been in development for some time.

Coillte's original partner for the Cloosh Valley project is Canadian firm Finavera Renewables, which will retain a 10 interest in project, but has sold its majority stake to SSE. Finavera confirmed that it has signed an agreement with SSE Renewables Limited, the Irish division of SSE, to sell a majority interest in its wholly-owned Gate 3 grid connection from Eirgrid for 8.4 million euros US $10.7 million. The company also created a co-development deal with SSE and Coillte to move ahead with the Cloosh Valley project.

The first phase of the windfarm's construction will involve erecting 22 turbines to generate 50 MW of electricity, enough to power approximately 30,000 homes. Permission for Phase I has already been granted to Coillte. When complete, the 105-MW windfarm will generate enough electricity for up to 68,000 homes.

David Gunning, chief executive officer of Coillte, said: "As Ireland's largest land owner, Coillte has a unique and extensive portfolio of suitable sites for windfarms across the country, with some of the best wind regimes. We identified the potential of the Cloosh Valley site as part of our long-term strategy to manage our assets in a sustainable way and to deliver on key national policy objectives. We are delighted to bring our unique assets and expertise into play to help deliver on Ireland's renewable energy targets, as well as delivering a substantial uplift in the value of our assets for our shareholders."

Gunning added: "This year alone we have six more windfarm projects in the pipeline for planning with a potential of 250 MW and anticipate continuing to make a significant contribution to meeting Ireland's renewable energy targets."

Finavera Renewables CEO Jason Bak said: "We are delighted to be partnering with Scottish and Southern Energy and Coillte on the development of the Cloosh Valley wind project. SSE brings significant development, construction, and operating experience to this project. The strength of the development team now behind the Cloosh Valley project illustrates the value of this project, which has some of the best available wind resources in Europe."

Coillte is the second-largest developer of onshore wind projects in Ireland, with a portfolio of more than 400 MW of Gate 2 and 3 Projects across the country. Approximately 20 of installed wind energy generation capacity in Ireland is situated on land owned, or formerly owned, by Coillte.

West Clare Renewable Energy Limited WCRE received the green light to build Ireland's largest community-owned windfarm in County Clare. The 84-MW Mount Callan windfarm will comprise 28 wind turbines, each with a capacity of 3 MW.