Irish state-owned forestry company Coillte is exploring partnership opportunities to develop over 1GW of renewable energy projects in Ireland.
Coillte said it is considering options to maximise the value of its existing wind assets, including the potential sale of part or all of its portfolio to fund or co-fund new developments.
It has provisionally appointed IBI Corporate Finance and Capricorn to advise the company.
Coillte said its land assets has enabled the development of a pipeline of 25 projects exceeding 1GW.
The company and its financial advisors in the near future will “invite interested parties in the wind, solar and wider renewable energy sector to participate in a competitive process designed to identify the best available partnership/joint venture models and their respective configurations”.
This will lead to a tender process in 2018, Coillte added.
Coillte chief executive Fergal Leamy said: “Our approach to maximising the potential of our future renewable energy plans and our existing assets is an integral part of the company’s transformation strategy designed to enable Coillte to become the best forestry and land solutions company in Europe.”
Image: Coillte
