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New Tyrone windfarms in €60m deal

January 06

New windfarms at Church Hill and Crigshane in county Tyrone are part of a series of new facilities being developed on an all-island basis by leading competitive energy firm Energia, a member of the Viridian Group.

Together the new windfarms will deliver an additional 150 megawatts (MW) of renewable power to electricity users throughout the island from several new wind farm developments by 2012.

50MW of new windfarm developments in Northern Ireland have been financed through a £60m facility agreed with Norddeutsche Landesbank and Rabobank. 53MW of developments in the Republic of Ireland have been financed by a separate €48m finance facility that Energia agreed with Royal Bank of Scotland, Bank of Ireland and National Australia Bank, with scope to increase that above 100MW for further projects in the pipeline.

Energia is one of the most significant contributors to the achievement of renewable targets and one of the largest investors in the renewable sector on an all-island basis.  The company currently has 24 MW of directly owned operational renewable energy assets, in addition to the 150MW in construction and development, with a further 565 MW in power purchase agreements (PPAs) already operational, in development or agreed subject to contract.

The 150MWs will come from new windfarms throughout the island, including developments in Tyrone, Cork, Donegal and Tipperary. Energia are directly involved in the development of 8 new windfarm projects, and have PPAs agreed with a further 22 separate developments. In addition to this extensive number of windfarms, the company’s renewable portfolio also includes biomass, landfill gas, small scale hydro and ocean power.
 
The green electricity generated by these windfarms will be supplied to businesses across Ireland by Energia which has 17%, rising to 25% by 2012, of the all-island renewable electricity connected supply.  They are Ireland’s leading independent energy business supplying more than 65,000 business customers - over 25% of the business electricity market, and over 30% of the gas market.

Peter Baillie, Managing Director Renewables, Energia, commented, “This additional

150MW of wind power together with 565MW of PPAs will put us in a leading position with 25% of the wind generation market. Demand for renewable electricity is growing rapidly among business and we have consistently increased our renewable portfolio to meet this need.”
 
“We are delighted to have signed a £60 million finance facility jointly with Nord/LB and Rabobank to assist with the development of these windfarms and look forward to adding a further 70MW to the portfolio in the next few months.  Continued investment in green power generation facilities is vital for the future growth of the all-island economy.

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