Ørsted takes final investment decision on Farranrory Onshore Wind Farm in Ireland
Ărsted A/S (Orsted)
Ărsted takes final investment decision on Farranrory Onshore Wind Farm in Ireland
18-Jan-2024 / 10:00 CET/CEST
18.1.2024 10:00:01 CET | Ărsted A/S | Investor News
Ărsted has taken final investment decision (FID) on Farranrory Onshore Wind Farm in Tipperary, the companyâs 22nd wind farm on the island of Ireland.
The wind farm, which will consist of nine wind turbines and have the capacity to generate 43.2 MW of green electricity, is expected to be fully operational by the summer of 2026. This will bring Ărstedâs operational capacity across solar power and onshore wind in Ireland and Northern Ireland to over 500 MW.
The FID follows the projectâs successful bid under the Irish Governmentâs Renewable Electricity Support Scheme 3 (RESS 3) auction in September 2023. The RESS 3 auction had an average strike price of EUR 100.47 per MWh,which is consistent with similar regimes in other European markets. RESS 3 also awarded a contract to Garreenleen Solar Farm in Carlow, which last month became Ărstedâs first Irish solar project to achieve FID to commence construction.
Commenting on the investment decision, Kieran White, Senior Vice President of Onshore in Region Europe at Ărsted, said:
âWind energy plays a pivotal role in the transition to renewable energy, and weâre proud to confirm that weâll invest in our 22nd Irish wind farm.â
âOur final investment decision is testament to our commitment to providing green energy to the Irish grid, driving down the cost of electricity for consumers, and contributing to Irelandâs overall energy independence. Pending grid connection, we look forward to seeing the wind farm in commercial operation by summer 2026,â he added.
The energy produced by Farranrory Onshore Wind Farm will be enough power the equivalent of Irish 25,000 homes with renewable electricity. With todayâs investment decision, the project will also install the necessary infrastructure to facilitate the wind farm connecting to the grid.
For further information, please contact:
Global Media Relations
Tom Christiansen
+45 99 55 60 17
tomlc@orsted.com
Investor Relations
Rasmus Keglberg HĂŠrvig
+45 99 55 90 95
ir@orsted.com
About Ărsted
The Ărsted vision is a world that runs entirely on green energy. Ărsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ărsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ărsted employs approx. 8,700 people. Ărsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group’s revenue was DKK 132.3 billion (EUR 17.8 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and X.
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