€60m project offers on-site renewable energy for commercial electricity users
About €60 million is to be invested in 15 on-site wind turbine facilities for large commercial users of electricity over the next four years.
Construction on the first facility is expected to commence within the next few weeks as Wind Energy Direct Ltd (WED), a wholly Irish-owned renewable energy company, commences the launch of its unique concept “behind the meter” electricity.
The turnkey renewable energy source for manufacturing, retail and agricultural locations, that will be the first of its kind operated on a commercial level here, will break the link with spiralling energy costs, saving companies with a 4MW installation up to €1m within five years of installation.
This will amount to a saving of over 9,000 tonnes of CO2 per annum and provide enough electricity to power the equivalent of 2236 households.
WED managing director Dominic Costello said they will manage, finance, develop and maintain all its projects: “The large-scale Munster-based project involves the installation of two 2MW turbines on-site, providing the company with an estimated €110k saving on its energy bill in year one.
“WED will install and maintain the turbines without any capital costs to the companies. The first step is a feasibility study to determine the economic viability of the project taking into consideration such criteria as wind resource, electrical load profile and planning criteria.”
Mr Costello said that there is significant interest from employers who wish to break the link with energy-cost inflation and enhance their “green” credentials.
“Large energy users are under competitive pressures with escalating energy costs. Our customers want to take control of their energy costs and this is a unique way that allows them to do this without any capital outlay.”
To achieve its initial targets by the end of 2012, WED Ltd is seeking to complete 15 projects. At current prices, WED Ltd will expect to make a return of approximately 15% on this investment.
2 September 2008
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