SSE Renewables and Bord na Móna have announced a 50:50 joint venture that aims to deliver an onshore wind portfolio to Ireland, with a capacity of 800MW.
The two low-carbon energy companies are planning to invest upwards of £850 million into the portfolio over the next decade, which will be focussed on the Irish Midlands.
Onshore wind farm projects to be developed as part of the portfolio will include Lemanaghan Wind Farm in northwest Offaly, Littleton Wind Farm in Tipperary, and Garryhinch Wind Farm on the Laois-Offaly border.
These three projects have the potential to collectively deliver approximately 250MW of new renewable energy generation for the country. The companies will also invest in a portfolio of “future development prospects to add the remaining 550MW of onshore wind capacity.
SSE Renewables is contributing approximately £47 million in initial equity consideration for a 50% equity stake in the 800MW onshore wind development portfolio.
This company will be fully responsible for each development up to the planning consent process, funding 100% of this phase. However, delivery of the portfolio is subject to each project receiving planning consent for development and securing a route to market and grid connection.
After planning consent and grid access are secured, both Bord na Móna and SSE Renewables will fund the development on a 50:50 basis through full business case approval and construction.
In preparation for this joint venture, Bord na Móna conducted a competitive process led by KPMG to secure a partner, with SSE Renewables selected as Bord na Móna’s preferred partner.
“Our operational onshore wind portfolio is the backbone of Ireland’s clean energy transition, and we’re currently building what will be one of Ireland’s newest wind farms, the 101MW Yellow River project in County Offaly,” said Stephen Wheeler, managing director of SSE Renewables.
He added: “By working together, our two organisations can deliver vital new onshore wind projects across the Midlands that will support regional economies and jobs, generate new homegrown energy for Irish consumers while providing crucial support to local communities across the heartland of Ireland.”
Windy Ireland
The country of Ireland, as well as its neighbour Northern Ireland, has seen significant investment into onshore and offshore wind as the renewable energy sector has grown considerably.
A key example of this is Octopus Energy’s generation arm’s £3 billion offshore wind fund, which was launched in November 2023 following a £190 million investment from Japanese energy giant Tokyo Gas.
The fund will invest in the development, construction, and operational stage offshore and floating offshore wind farms, as well as companies looking to build new projects, with plans to invest the total amount by 2030.
As part of this endeavour, the energy supplier took a 12.5% stake in the Irish Sea’s 660MW Walney Extension offshore wind farm.
Walney Extension – which held the title of the largest offshore wind farm in the world before sister sites Hornsea One (1.2GW total capacity) and Hornsea Two (1.32GW total capacity) became operational – is the sixth offshore wind farm that Octopus has invested in since 2022.
Other Octopus-supported projects include Hornsea One and Lincs in the UK. Internationally, the company has invested in the 288MW Butendiek project in Germany, alongside two offshore wind farms in the Netherlands.
Tom Donnellan, Bord na Móna chief executive, said: “This joint venture marks yet another important milestone in Bord na Móna’s significant transition to become one of the leading renewable energy companies in the country and is an acceleration of a key element of Bord na Móna’s 5GW of renewable energy infrastructure pipeline.”
“The portfolio of projects contained within this joint venture will be developed through a lease agreement at sites across Bord na Móna’s landbank, helping to benefit communities we have been operating in for the past 90 years.”
