Parkwind and ESB have reached an agreement under which ESB will acquire up to 35% stake in the Oriel offshore wind project in Ireland. The companies will also work together on the Clogherhead offshore wind farm, as Parkwind plans to acquire up to 35% in this project, for which ESB holds a foreshore license to commence site investigations.
The Oriel project is located in the Irish Sea off the coast of Dundalk and is planned to begin commercial operations in the early 2020s.
Parkwind got onboard the Oriel project in October 2017, when the company agreed on investment to become a strategic partner in the 330MW offshore wind farm.
Parkwind’s co-CEO Francois Van Leeuw said: “Since its entry into the Oriel project, Parkwind has performed a lot of development activities, opened offices in Dublin and is today delighted to welcome ESB to the Oriel project team. We look forward to working with ESB and local stakeholders in making the Oriel and the Clogherhead projects a success.”
ESB's offshore wind plans for off Clogherhead in County Louth emerged in the media in February 2018, after the company submitted an application for a foreshore licence to the Ireland Government's Department of Housing, Planning and Local Government.
ESB Chief Executive Pat O’Doherty stated: “Under our Brighter Future Strategy, ESB is completely transforming the way we generate electricity, replacing high carbon generation with low carbon and renewable alternatives. Today’s announcement represents a significant investment by ESB in offshore wind, which we anticipate will account for the bulk of Ireland’s future zero carbon electricity.
"Our collaboration with internationally respected developers such as Parkwind in the delivery of the Oriel and Clogherhead projects underscores our commitment to further involvement in the development and construction of offshore wind farms in both Ireland and the UK,” O’Doherty said.