Irish renewable energy development and energy storage company Gaelectric has been given planning approval for two wind farm projects in Co Derry. Both projects are expected to create around 25 megawatts of wind power when they’re up and running.
The wind farms will be in Smulgedon, north-east of Dungiven, Co Derry, and at Monnaboy on Loughtermore Mountain.
The company said both projects will bring a total of 25 megawatts (MW) of wind power, bringing Gaelectric’s onshore portfolio with planning approvals on the island of Ireland to 130MW.
The company is aiming to commission 150MW of wind energy by 2016. Its first wind farm in Skrine, Co Roscommon, was commissioned in June of last year, while its 13.8MW Carn Hill project outside Belfast is expected to be operational in early 2013.
Chief executive Brendan McGrath said Gaelectric is now at a "maturity" stage, whereby most of its projects are either at financial close, are construction ready, or have consents in place, including "firm" grid offers.
He said the company was in a position to be able to offer both current and future investors "tangible" renewable energy opportunities.
Gaelectric has appointed Royal Bank of Canada Capital Markets as strategic investment adviser on the rollout of its Irish onshore projects.
"The market response from the RBC process has been very encouraging and we are confident that we will bring this part of the programme to a successful conclusion in the near term," said McGrath.
Wind turbines image via Shutterstock
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