Renewable energy developer Parkwind and ESB have signed an agreement to jointly develop the Oriel offshore wind farm off Ireland’s Louth coast.
ESB will acquire a 35 per cent stake in the planned Oriel wind farm, the first offshore project in Ireland. The two companies said that their venture will be a “highly complementary partnership” due to Parkwind’s experience in the offshore wind sector and ESB’s experience in the delivery of engineering projects in Ireland.
The two companies have also agreed to work together on ESB’s Clogerhead project, another planned offshore wind farm off the coast of Louth.
The Oriel project, located in the Irish Sea off the coast of Dundalk, has a capacity of up to 330 MW and is planned to begin commercial operations in the early 2020s. “This partnership is driven by the strategy of the company which is based on a long-term vision whereby we not only develop, but also operate our projects. A strong local partner such as ESB is the right match to further execute this strategy.”
Ireland’s Minister for Communications, Climate Action and Environment, Richard Bruton TD, said that the agreement is a “significant development” for the offshore wind sector in Ireland. He added: “I am determined to make Ireland a leader in climate action. Renewable energy is critical to this ambition. With a sea area almost ten times the size of its landmass, Ireland has very significant offshore wind capacity and this partnership is a testament to our potential in this area.”
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