European Investment Bank offers €155m funding to Bord Gáis for six wind farms in Ireland

The European Investment Bank is providing a €155m funding to Irish energy supplier Bord Gáis Éireann for the construction of six wind farm projects in Ireland.

The onshore wind farms, totaling a capacity of 141MW, will be located in the Tipperary, Clare and Kilkenny counties and contribute towards the reduction of fossil fuel usage in the country.

Bord Gáis will provide construction and operation services for the expansion, which entails a total investment of €311m and is scheduled to be completed in 2013/2014.

The projects enhance the company’s operational wind capacity by 50% from 234MW to 365MW and also facilitates the meeting of Ireland’s goal to source 20% of its energy from renewable sources by 2020.

EIB vice president Mihai Tanasescu stated, “The Bord Gáis programme uses a free natural resource that exists in abundance in Ireland and will create jobs across the country.”

Bord Gáis Energy MD Dave Kirwan said that this funding is significant to the company’s roadmap for wind.

“Over the next three years, we will add a further 250MWs of wind generating capacity to our portfolio,” said Kirwan.