Firm’s €60m wind turbine investment promises to help companies cut costs

ENERGY conscious firms are in line for multi-million euro savings following a €60 million investment from an Irish renewable energy firm.

Wind Energy Direct (WED) is to invest in the development of large scale ‘behind the meter’ wind turbines which it said will result in Irish firms saving €3m in energy costs over a 10-year period.

The projects will supply energy directly to companies that sign up to the initiative. Any excess capacity will be sold on to the national grid.

The first project involves WED investing €6m in the installation of two 2MW wind turbines to deliver power to the Munster Joinery plant in Ballydesmond, which manufactures energy saving windows and doors.

WED plans to install similar projects over the next four years through a €60m investment.

WED, founded in 2006, intends to increase staff numbers from 10 to 30 during this time.

WED managing director Dominic Costello said: “This amounts to a significant breakthrough for industry in its efforts to enhance competitiveness in Ireland by helping to reduce energy costs from the start and hedging against future energy price increases. Critically also, our projects enable industry to significantly reduce carbon emissions, so it is an absolute win-win situation for them.”

The 4MW installation at Munster Joinery will provide enough energy to power the equivalent of 2,262 houses.

Sustainable Energy Ireland provided a grant of €1m towards the project.

Mr Costello said: “We envisage installing 15 WED projects over the next four years and a number of these projects are already well advanced.”

Purchasing manager at Munster Joinery, Seán Michael Murphy, said: “The installation of the two wind turbines on our site represents the future of energy for Irish industry. And we are proud to be associated with them and with Wind Energy Direct.”

The move was also welcomed by Energy Minister Eamon Ryan.