May 23 (Renewables Now) - Irish energy company ESB and utility service provider Bord na Mona have reached financial close on the 89-MW Oweninny wind project in North County Mayo.
The total cost of the project is estimated at EUR 160 million (USD 187m) and the European Investment Bank (EIB) will provide half of that sum, it said today. This is EIB’s largest ever investment in renewable energy generation in Ireland under the Investment Plan for Europe.
The remaining part of the financing will come from MUFG Bank, BNP Paribas and AIB.
The wind farm will comprise 29 turbines, to be installed on a site between Crossmolina and Bangor Erris where Bord na Mona previously harvested peat to provide indigenous fuel for ESB’s power plant at Bellacorick. That facility was decommissioned in 2003.
(EUR 1.0 = USD 1.170)