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Bank of Ireland and EIB to finance €100m wind energy project

Christian Fernsby |
Bank of Ireland and the European Investment Bank (EIB) have agreed to finance a €100 million wind farm project by climate solutions company Bord na Móna that will be able to supply up to 55,000 homes with renewable energy.

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Topics: IRELAND    EIB   

The new 75 megawatt (MW) windfarm, located at Cloncreen, Co Offaly, will create up to 100 jobs during the construction phase and is due to start supplying renewable energy to the national grid next year.

This is the first project under the Renewable Electricity Support Scheme to receive financing and when completed, will be another contribution towards Bord na Móna’s objective to supply approximately one third of Irish homes with renewable energy by 2030.

Bank of Ireland and the European Investment Bank are the Mandated Lead Arrangers for the project financing and each providing 50% of debt.

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