This initiative represents a key step in view of the increased use of renewable energy in Ireland and reduce the use of fossil fuels.
Expansion program, which represents a total investment of € 311 million, should be completed in 2013-2014. It will increase the operational capacity of wind parks Bord Gáis more than 50% (from 234 MW to 365 MW).
The operation will also help Ireland to achieve its goal of a 20% share of energy from renewable sources of 2020.
“The funding provided by the EIB for our wind farm projects is a major vote of confidence in relation to the strategic direction of our company and the policy of the State in promoting the development of the wind energy in Ireland. Bord Gáis is a leading player in the wind energy sector in Ireland, representing over 15% of installed capacity and serving nearly 180,000 homes across the country. EIB financing It plays a role essential in supporting our roadmap for wind. During the next three years, we will integrate 250 MW of additional wind capacity in our portfolio, ” said Dave Kirwan, CEO of Bord Gáis Energy.
“The official confirmation of the Bord Gáis obtained by a competition of 155 million euros in the EIB is the second major announcement for funding made by the company during the past week, after the success of the sale of bonds that helped raise 500 million euros. Such transactions reflect both the strong revival of investor confidence towards Ireland and Irish companies. Operation announced is in addition to the long list of successful interventions of the EIB to support investments in the energy sector in Ireland, ” said Michael O’Sullivan , CEO Bord Gáis.
Bord Gáis Energy is a major operator on the Irish market for wind power. The company owns and operates 132 wind turbines spread over 13 farms in eight counties (Kerry, Cork, Limerick, Clare, Tipperary, Kilkenny, Donegal, Tyrone). The long-term investment of Bord Gáis in renewable energy is in line with and in support of the goal state is set to produce 40% of electricity consumption from renewable sources renewables by 2020. In this regard, wind energy is considered as the main source of renewable energy.
Over the past five years, the EIB has provided more than $ 1.4 billion for energy infrastructure in Ireland (renewable energies, improving distribution, charging stations for electric vehicles, electricity generation from gas).