Kedco signs up to windfarm plan
Published 22/01/2013 | 05:00
Cork-based energy group Kedco is to co-develop three multi-million-euro windfarms in the northwest that will be expected to have a total energy output of 30MW.
The company said its wholly owned subsidiary, Reforce, had signed an agreement with a private landowner to develop the three projects.
Kedco has agreed to fund all associated pre-construction development costs in return for a 50pc stake in each project. Planning applications for all three windfarms are due to be lodged by the end of this year. The cost to build the three windfarms is likely to be in the region of €67m.
Kedco intends to establish a project pipeline of renewable energy schemes with at least 300MW of total output.
Kedco chief executive Gerry Madden said the firm was positioning itself to have a portfolio of renewable energy assets on both sides of the Irish Sea.
"The addition of the three projects complements Kedco's existing pipeline and the company is considering similar opportunities, which will further establish a balanced portfolio of projects across various renewable technologies," he said. Last week, the company signed a heads of terms with Londonderry Ports and Harbours Commissioners.
It gives Kedco an option to lease a 10-acre site within the dock for the proposed construction of a biomass electricity and heat generating plant with a capacity of up to 25MW.
The company has also started a pre-planning consultation process for a 4MW extension to a biomass project in Newry.