Klimavest acquires Irish wind farm
Commerz Real has secured the 57.6 MW Moanvane Wind Farm in Ireland’s County Offaly for its Klimavest sustainable infrastructure investment fund.
Image for illustration purposes.
Ireland, County Offaly: Commerz Real has secured the 57.6 MW Moanvane Wind Farm in Ireland’s County Offaly for its Klimavest sustainable infrastructure investment fund. This acquisition is the first entry into the Irish renewables market for Klimavest.
The wind farm, developed and sold by Statkraft, has been in operation since the end of September and is located about a 90-minute drive west of Dublin. The project consists of 12 Nordex turbines. The wind farm provides the fund with guaranteed remuneration based on a 15-year corporate power purchase agreement. Statkraft will remain involved and provide operational management services.
Global head of Green Deal Infrastructure at Commerz Real Michael Henn said: “Ireland is a very attractive location thanks to its unique and favourable wind conditions which come close to offshore environments. Wind energy is accounting for a third of the country’s power supply and has developed to an increasingly relevant contributor to Ireland’s energy mix.”
Managing director of Statkraft Ireland and UK Kevin O’Donovan commented: “I am pleased to confirm the successful sale of Moanvane. The journey has not been an easy one. It has taken our team in Ireland over 10 years to reach this stage on this project, highlighting the ongoing challenges of delivering onshore and offshore wind projects within a realistic timeframe. Despite these hurdles, Statkraft remains dedicated to continuing to make a significant impact in Ireland’s energy landscape. It is only by increasing renewables on the system that we will reduce our dependence on expensive gas and minimise our exposure to price spikes.”
Source: renews.biz
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