• 56 turbine farm, located off Suffolk coast, to power up to 380,000 homes
• Investment seen as first major step for ESB in offshore wind generation, and will provide company with platform for similar developments off Ireland and Britain
Dublin, 29 March 2018
In a major move into offshore electricity generation, ESB has today announced that it has acquired a 12.5 per cent shareholding in the 353MW Galloper Wind Farm from Macquarie Capital.
The Galloper project is a 353MW development located in the Outer Thames estuary, 30km off the coast of Suffolk, England. It comprises 56 Siemens-Gamesa wind turbines and is in the final stages of construction. The project is supported under the UK renewable support scheme and can provide enough energy to power 380,000 homes.
Commenting on the acquisition, ESB Chief Executive Pat O’Doherty said: “This investment represents a significant first step for ESB into offshore wind generation. Renewable electricity is a key enabler in the transition to a low carbon economy, and ESB expects offshore wind to play a pivotal role in this transition. Our investment in the Galloper wind farm underscores ESB’s commitment to further involvement in the development and construction of wind farms off the coast of Ireland and Britain, as part of the transition to a brighter, low carbon future. ”
ENDS/
Media enquiries to:
Paul Hand, ESB Press Office/ 00353 85 7256798
About ESB
ESB operates across the electricity market: from generation, through transmission and distribution to the supply of customers with an expanding presence in the Great Britain generation market. In addition we extract further value through supplying gas, energy services and using our networks to carry fibre for telecommunications. ESB is the owner of the distribution and transmission networks in the Republic of Ireland (via ESB Networks) and Northern Ireland (via Northern Ireland Electricity Networks Ltd). In 2017 it had a 42% share of generation in the all-island market (via Generation and Wholesale Markets) and a 34% share of electricity supply in the all-island market (via Electric Ireland) with 1.4 million customer accounts.
ESB has been a leading independent energy company in the UK for over 23 years where the company has invested almost £2bn in generation and power network assets. This year, ESB Energy was launched in Britain, offering very competitive electricity and gas offerings to residential customers.
ESB contributes almost €2 billion annually to the Irish economy through dividends, investments, taxes and jobs. ESB provides significant employment both directly, with over 7,790 employees, and indirectly through contractors and service providers. Click here for more details.
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29 March 2018