Bord na Móna and ESB have announced that a financial close has been reached on phase two of the €150m Oweninny Wind Farm project in north Co Mayo.
The wind farm’s 31 turbines will supply clean energy to the equivalent of over 70,000 homes.
Located between Crossmolina and Bangor Erris, the development adjoins Ireland's first commercial wind farm, Bord na Móna’s Bellacorrick wind farm, and phase one of Oweninny (89MW), which was commissioned in 2019.
The project will be financed by a consortium of banks including AIB, BNP Paribas and the European Investment Bank (EIB).
Bord na Móna chief executive Tom Donnellan said: “We have a long history of renewable energy operations and development in Mayo, and this exciting new venture represents the next chapter in Bord na Móna reaching 1GW of renewable assets by 2030, which will power over half a million homes across the country.
“Our vision is to help Ireland achieve net zero carbon emissions by 2050. This joint venture with ESB demonstrates how we in Bord na Móna can deploy our expertise and assets in order to support national policy to decarbonise by investing in new forms of renewable energy that are secure and sustainable,” he said.
ESB chief executive Paddy Hayes welcomed ESB’s collaboration with Bord na Móna and the financial institutions involved, saying: “Building on ESB’s long history of electricity generation at Bellacorick and a strong partnership with Bord na Móna, the Oweninny joint venture investment is another tangible step towards a low-carbon future, powered by clean electricity."
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.
The community benefit scheme for phase one of the wind farm has to date contributed over €400k to community groups and organisations across Co Mayo.