Commerz Real for its Klimavest sustainable infrastructure investment fund has took over a new 57.6MW wind farm in the Irish midlands.
Through the takeover of Moanvane Wind Farm in County Offaly, Klimavest is making its debut into the Irish renewables sector.
The wind farm which is stationed about a 90-minute drive west of Dublin has been functioning since the completion of September 2024. The farm was developed and marketed by Statkraft and consists of 12 Nordex turbines having an installed capacity of 57.6 MW.
On the basis of a 15 year corporate power purchase agreement, the wind farm supply the funds with assured remuneration.
As per the statement of Michael Henn, Global head of Green Deal Infrastructure at Commerz Real, “Ireland is a very attractive location thanks to its unique and favourable wind conditions which come close to offshore environments. Wind energy is accounting for a third of the country’s power supply and has developed to an increasingly relevant contributor to Ireland’s energy mix.”
Statkraft will persist to be involved and will proceed with supplying operational management services at Moanvane.
Moreover the site also comprises of an amenity trail, which right now is being constructed and will be concluded early next year. The 6 km trail will be accessible to the public and will ensure a secure walking route, while incorporating biodiversity initiatives to amplify local eco-system.
Kevin O’Donovan, Managing Director of Statkraft Ireland and UK stated, “ I am pleased to confirm the successful sale of Moanvane. The journey has not been an easy one. It has taken our team in Ireland over 10 years to reach this stage on this project, highlighting the ongoing challenges of delivering onshore and offshore wind projects within a realistic timeframe. Despite these hurdles, Statkraft remains dedicated to continuing to make a significant impact in Ireland’s energy landscape. It is only by increasing renewables on the system that we will reduce our dependence on expensive gas and minimise our exposure to price spikes.”
