ESB fund to invest €20m into wind energy developer

ESB Novusmodus is to invest €20 million in an Irish wind energy developer which builds and runs on-site turbines for large businesses who are looking to reduce energy costs.

Wind Energy Direct (WED) also provides energy packages whereby customers can lock in their energy costs at current levels for five, 10 or 15 years, avoiding rises in energy inflation.

Businesses who employ WED — manufacturing facilities, hospitals and data centres for the most part — never buy the wind generation facilities or make any kind of capital outlay in the wind project. They just avail of WED energy pricing.