Wednesday 16 January 2019

ESB acquires first stake in near operational offshore windfarm

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Donal O'Donovan

Donal O'Donovan

The ESB has acquired its first a stake in a near operational offshore windfarm.

The commercial semi-state confirmed that it has acquired a 12.5pc sake in in the 353MW Galloper Wind Farm off the coast of the eastern English county of Suffolk from Macquarie Capital.

The 56-turbine Galloper wind farm is big enough to power 380,000 homes.

ESB chief executive Pat O’Doherty said the UK deal was a significant for the company in its planned shift away from reliance on fossil fuels.

“This investment represents a significant first step for ESB into offshore wind generation.  Renewable electricity is a key enabler in the transition to a low carbon economy, and ESB expects offshore wind to play a pivotal role in this transition.”

A spokesman for the ESB said that in addition to the financial investment, the acquisition it will give the ESB access to technical and engineering insights in relation to offshore wind ahead of a planned push into the area in Ireland where it is likely to develop of co-develop assets from scratch.

The company has plans for wind farms in the Irish Sea off the coasts of Louth and Wexford.

UK based SEE owns the only existing Irish offshore wind farm, the 25 MW 25-turbine Arklow Bank wind farm off the coast of Wicklow.

Last year, the ESB advertised a tender seeking advisory services for offshore wind projects.

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