Once a peat bog, now a future 86MW wind farm; the ESB and Bord na Móna site, located between Crossmolina and Bangor Erris will see 29 turbines built after receiving funding from four banks.
The European Investment Bank (EIB), MUFG Bank, BNP Paribas and AIB will finance the wind farm with long-term debt. The European Investment Bank’s €80m contribution to the new Oweninny Wind Farm (50% of total funding) represents the bank’s largest ever investment in renewable energy generation in Ireland and the largest financing in the country to date under the Investment Plan for Europe.
EIB vice president Andrew McDowell, stated that this was a “landmark investment” that will “contribute to Ireland’s climate action targets, power over 50,000 homes and create around 100 local jobs during construction.”
Oweninny Wind Farm will add to ESB’s existing portfolio of 16 wind farms.
ESB and Bord na Móna have established a Community Benefit Scheme for the funding of local community projects and initiatives over the lifetime of the wind farm.