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Ireland's ESB, Coillte secure financing for Raheenleagh wind farm project

CTBR Staff Writer Published 08 July 2015

Ireland's Electricity Supply Board (ESB) and Coillte have reached financial close on their 35MW Raheenleagh wind farm project in Wicklow.

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The parties have secured long-term debt from Bank of Ireland and Nord LB to finance the €70m project.

The significant part of the investment will be funded via bank debt, while the rest will be equity provided by ESB and Coillte.

Planned to be built west of Arklow, the Raheenleagh wind farm will feature 11 Siemens turbines that generate enough energy for about 22,500 homes.

Construction is ready to start with commercial operation targeted for October 2016.

Gridpower deliver electrical services, while Denis Moriarty The Kerries will undertake the civil engineering work.

The project includes a 38kV electrical substation and about 1.4km of 38kV underground cable routes that falls within the site boundary linking it to the 110kV busbar at Arklow 220kV station through a new 63MVA transformer at Arklow.

ESB chief executive Pat O'Doherty said: "This project is a prime example of ESB's commitment to sustainability in all of its activities.

"We look forward to working with Coillte on Raheenleagh Wind Farm, as well as upcoming projects in Bunkimalta and Castlepook."

Image: The Raheenleagh wind farm will feature 11 Siemens turbines. Photo: courtesy of Coillte.