Press release

ESB acquires Mynydd y Betws wind farm project in Wales

ESB has today (Wed, June 2nd) announced it has acquired the fully licensed Mynydd y Betws Wind Farm project in South Wales from the Welsh energy company, Eco2.

Construction of the 15 turbine, 34.5 megawatts Wind Farm near Ammanford in Carmarthenshire, South Wales is expected to commence next year.

This builds on acquisitions by ESB last year in Britain of the 24megawatts operating West Durham Wind Farm and the 66 megawatts fully licensed Fullabrook Wind Farm in Devon where construction will begin later this year.

The Myndd y Betws site was developed by Welsh developer Eco2 in co-operation with local private shareholders and is fully licensed.

Announcing completion of the transaction today, ESB’s Head of Wind Development in Britain, Andy Paine, said the acquisition provides an excellent basis on which the Irish semi-company can grow its market presence.

“With Fullabrook and Mynydd y Betws providing 100 megawatts of development assets, together with 24 megawatts operational at West Durham, ESB is well on the way to achieving 200 megawatts of wind generation in Britain by 2012. We are committed to developing a balanced portfolio of generation in this market with less reliance on carbon”.

“ESB is delivering on its strategic objectives to become a significant investor in the UK renewables market”, he said.

Eco2 Commercial Director, Darren Williams said, “The sale allows Eco2 to invest funds into its other businesses including its development of a Welsh tidal business.”

Significant investment has been made by ESB International, over the last year, to strengthen and expand its presence in Britain. Overall, ESB has allocated €4 billion specifically for direct investment in renewable generation projects, and is active in supporting low carbon power generation.

Ends

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