ESB and Coillte have finalised their new joint venture company FuturEnergy Ireland, which will develop up to 1GW of onshore wind by 2030.
The semi-state partners said they are dedicated to developing best-in-class, commercially successful wind farms while maximising the support from local communities.
Coillte’s portfolio of proposed wind farm projects and its Renewable Energy division has now transferred to FuturEnergy Ireland.
The majority of projects in the pipeline are either preparing to enter the planning system or are in the planning process awaiting adjudication.
The new company is led by CEO Peter Lynch (pictured, centre), former managing director of Coillte’s Renewable Energy Division.
The aim of the partnership is to “materially help” the country deliver on its green energy targets, achieving net zero emissions by 2050, as set out in the Government’s Climate Action Plan and legislated for under the Climate Action Act.
Lynch said: “With the very strong mandate received from its two shareholders, FuturEnergy Ireland is positioned to make a lasting and positive impact in Ireland’s renewable energy sector by delivering wind farm infrastructure for the benefit of all stakeholders, including local host communities.
“By successfully bringing forward its portfolio of projects, FuturEnergy Ireland can become a sectoral industry leader and standard bearer for the responsible development of renewable energy infrastructure.”
FuturEnergy Ireland’s wind farm projects have the potential to play a fundamental role in a green economic recovery by creating jobs in rural areas and growing a green industrial sector, while also funding local development and enhancing amenities for host communities, added the alliance.
Irish Energy Minister Eamon Ryan said: “The Climate Action Plan 2021 sets out a more ambitious goal of up to 80% of electricity being generated from renewables by 2030, further reducing greenhouse gas emissions across the country.
“Onshore wind has been the predominant renewable technology to date, has delivered enormously for Ireland and will continue to play an important role in reaching this 80% level. This ambitious joint venture between Coillte and ESB, with its mandate for the delivery of 1GW of renewable energy by 2030, is positioned to show real leadership in reaching our national climate goals.”