Construction News

18/11/2016

Financial Close Reached On Castlepook Wind Farm Project In Cork

Irish energy firm ESB and Coillte have reached financial close on the Castlepook Wind Farm project in Co Cork.

As a result of a co-development agreement between the two companies, the project will be financed with long-term debt from Bank of Ireland.

The Castlepook project in the Ballyhoura Mountains represents an overall investment of €64 million.

The 33.1 MW Castlepook Wind Farm will generate enough power for approximately 17,000 households annually.

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The wind farm will connect to the existing electricity distribution system at Charleville via an underground 38kV cable that will be installed as part of the construction works.

ESB Chief Executive Pat O'Doherty said: "This project represents ESB's commitment to investing and innovating in low carbon and renewable technologies, including wind energy. Castlepook windfarm will add to ESB's existing portfolio of 15 wind farms on the island of Ireland, and will help us achieve of our target of 1,600MW of wind generation capacity by 2025. We believe our wind farm investments should deliver long term social, economic and environmental benefits for everyone and we look forward to working with Coillte to delivering this at Castlepook."

(CD/MH)

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