New ESB venture for wind projects

THE ESB has set up a new venture in the UK to develop, construct and operate small onshore wind projects.

Called Airvolution Energy, it will focus on sub-10 megawatt (MW) projects – generally operations with three or fewer turbines.

The venture is being funded by ESB Novus Modus, a clean-tech and renewable energy fund set up by the semi-State company that plans to invest €200 million in projects in Ireland, the UK and northwest Europe. It is expected to provide €5-15 million in funding to the UK venture.

Airvolution Energy has signed an exclusive arrangement with Savills, which has been charged with identifying brown-field sites and managing the full planning permission process. PEP, a specialist in wind energy, will provide the ESB spin-off with development and operational services.

The venture is being led by Kevin McNamara, a former managing director at ESB International, and will operate across Britain.

Bernard Byrne, chairman of ESB Novus Modus, said Airvolution Energy would seek to become a major player in the niche renewable sector in Britain.

Commenting on the development, Philip Gready, director of Savills Energy, said: “It will kick-start this sector, and allow landlords to develop the full potential of their wind resources with a trusted partner.”