AN investment fund managed by BNP Paribas Clean Energy Partners GP, has acquired 100% of Gortahile windfarm from ABO Wind Ireland, an Ireland-based developer of wind energy projects.
The 20 megawatt windfarm, which is based in Co Laois, began commercial operation last month and is forecast to produce circa 70 GWh of electricity per year.
"This acquisition represents the cornerstone of a larger portfolio that we intend to build in Ireland," says Joost Bergsma, chief executive of the fund.
"Ireland is a very attractive renewables market for financial investors, because of its strong wind regime, its robust REFIT support policy, and its commitment to achieving its 2020 renewable energy target."
The fund aims to acquire additional assets of wind generation capacity in Ireland over the course of its investment period.
"We are securing a deep pipeline of projects with a number of developers and owners to enable us achieve our target investment size in Ireland," says Francesco Cacciabue, CFO and investment director. "We target both operational windfarms and windfarms under construction."
The Gortahile windfarm acquisition is the first in a partnership agreement between BNP Paribas Clean Energy Partners GP and ABO Wind in which the parties have agreed to transact 50 MW of generation capacity over the next 16 months.
ABO Wind, which has offices in Killiney, Co. Dublin, has been working with its Irish partner since 2006 to develop windfarms in the Republic and the North.
"We are looking at a number of projects in Ireland at the moment," says Gerry McDevitt of ABO Wind. "We get these up and running and bring in investors, taking the risk out of the project."
The main area of operation is the planning and construction of windfarms. This reaches from the procurement of construction sites to initial operations.
a d v e r t i s e m e n t
This appeared in the printed version of the Irish Examiner Tuesday, September 07, 2010
