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January 22, 2013

Kedco signs agreement to develop wind farms in Ireland

Energy developer Kedco has agreed to construct three wind farms with a capacity of up to 30MW in north-west Ireland.

By admin-demo

wind turbine

Energy developer Kedco has agreed to construct three wind farms with a capacity of up to 30MW in north-west Ireland.

The company has signed a co-development agreement, through its wholly-owned subsidiary Reforce Energy, with a private landowner for three windpower projects in the country.

“The addition of the three projects complements Kedco’s existing pipeline and the company is currently considering similar opportunities, which will further establish a balanced portfolio of projects across various renewable technologies."

Kedco will fund all associated pre-construction development costs related to the projects in return for a 50% stake in each wind farm.

The company plans to apply for planning consent for each project by the end of 2013 and said it would provide further updates in due course.

Kedco chief executive Gerry Madden stated that with the latest acquisition, the company intended to diversify and accelerate the growth of its energy projects pipeline.

"Through the new wholly owned subsidiary, we are delighted to have added a further 30MW of wind energy to our portfolio of projects and to see the momentum growing behind our strategy of building a pipeline of at least 300MW of renewable energy," Madden said.

"Together with the 25MW Londonderry project and 4MW extension to our Newry Project announced on the 14 January, this brings the total portfolio under development by the company to 125MW.

"The addition of the three projects complements Kedco’s existing pipeline and the company is currently considering similar opportunities, which will further establish a balanced portfolio of projects across various renewable technologies."

Madden also noted that Ireland, with its favourable wind resources, could become a potential export market for renewable energy to the UK.


Image: Kedco plans to apply for planning consent for the three wind projects in Ireland by the end of 2013. Photo: courtesy of Paul Anderson.

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