Moving away from a reliance on peat, Bord na Móna is delving deeper into wind energy.
Bord na Móna has released its annual results for the year ending March 2010, with operating profits of €23m and turnover of €384m. According to CEO Gabriel D’Arcy: “Overall, our 2009/10 results support our strategic decision to diversify the business of Bord na Móna away from a reliance on peat.”
He pointed to how, in 2009, Bord na Móna lodged two new planning applications to expand its wind energy portfolio by 120MW.
Last week, Bord na Móna announced that it is selecting its existing cutaway bog at Mountlucas in Co Offaly for the development of a new wind farm.
“Progress is also being been made on our 300MW Oweninny wind farm at Bellacorick, Co Mayo, which will be the biggest onshore wind farm in Ireland,” asserted D’Arcy.
Gabriel D’Arcy, CEO, Bord na Móna
Bord na Móna has also been advancing its co-fuelling agenda, with 7.8pc of biomass feedstock replacing peat into its Edenderry Power station.
“This is part of our ongoing strategy to ensure the plant will be less peat dependent in the future,” said D’Arcy.
Turnover from sustainable activities increased by 11pc from €66.5m to €74m at Bord na Móna.
Said D’Arcy: “We are making progress on a number of potential new investment opportunities in our existing core business and in some new green technology areas.”
He said Bord na Móna’s new Innovation Centre in Greensboro, North Carolina, is helping to give the company traction in the US market.
Meanwhile, Bord na Mona Environmental Products US recently announced a partnership agreement with All Tech Environmental on a wastewater treatment project.
“The agreement provides for the supply of proprietary technologies that will be used to treat wastewater in commercial and residential development markets that require nitrogen and phosphorous removal to high-performance permit levels, water reuse, and high-strength waste applications,” explained D’Arcy.