Renewable

October 11 (Renewables Now) - Inis Offshore Wind, a newly-established renewable energy firm headed by former Ørsted executive Vanessa O’Connell, intends to develop at least 1 GW of offshore wind capacity in Ireland by the end of the decade.

The news was announced today by Irish alternative investment fund manager Temporis Investment Management Ltd, which noted that the new platform is funded through the Temporis Aurora Fund, by the Ireland Strategic Investment Fund (ISIF) and other institutional investors totalling EUR 126 million (USD 146m).

The announcement says that Inis has identified for assessment five potential project sites off the East and West Coasts of Ireland as well as in the Celtic Sea. If successful, the initial East Coast projects could result in the addition of about 500 MW of capacity each. Moreover, they would enable a combined capital investment of between EUR 2 billion and EUR 3 billion.

“With a current pipeline of five potential projects, we look forward to announcing more detail on our plans in due course and will work very closely with local communities, including marine users, to ensure their views are reflected in our plans and so that we maximise the positive impact our work has on local communities,” said Vanessa O’Connell, head of Inis Offshore Wind.

(EUR 1.0 = USD 1.158)

Join Renewables Now's free daily newsletter now!