Move marks Irish electricity provider ESB’s first step towards the offshore wind energy market.
In a major move that could eventually herald the development of offshore wind technology off the Atlantic and Irish Sea coastlines, Ireland’s incumbent electricity provider, ESB, has bought a stake in a near-operational wind farm off the coast of England.
The acquisition of a stake in the Galloper wind farm off the coast of Suffolk in eastern England could provide ESB with experience and expertise to build further wind farms off Ireland’s coast.
‘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’
– PAT O’DOHERTY
Ireland has one of the longest coastlines in Europe yet offshore wind energy is still an untapped resource.
Last September, Siliconrepublic.com reported how ESB put out a tender document seeking the establishment of vast wind farms.
Vision for offshore wind farms off Irish and British coasts
ESB is understood to have signed a deal worth around £200m (€228m) to acquire the 353MW Galloper wind farm from Macquarie Capital.
The 56-turbine wind farm is valued at an estimated €1.7bn and is capable of powering 380,000 homes.
In addition to financial investment, the acquisition will give ESB access to technical and engineering insights.
“This investment represents a significant first step for ESB into offshore wind generation,” said CEO Pat O’Doherty.
“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.
“Our investment in the Galloper wind farm underscores ESB’s commitment to further involvement in the development and construction of wind farms off the coast of Ireland and Britain, as part of the transition to a brighter, low-carbon future. ”