Irish utility buys stake in offshore wind project

State-owned Irish utility ESB will participate in developing the 330 MW offshore wind farm Oriel along with a frequent MHI Vestas customer.

Offshore wind project Oriel off Ireland's eastern coast is now one step closer to becoming developed. State-owned Irish utility ESB has purchased a 35 percent stake in the project from Belgian developer Parkwind. The two parties will also, with the same ownership distribution, collaborate on developing the Clogherhead project, which is in an earlier stage of development than Oriel. The latter's capacity of 330 MW is planned to enter operation in the early 2020's.

"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," writes ESB Chief Executive Pat O'Doherty in a press statement.

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