Gaelectric opens wind farm at Leabeg, Co Offaly

Gaelectric will officially open its ninth operating wind farm in the State today at Leabeg near Ferbane in Offaly. The 4.6 megawatt wind farm will produce enough electricity for 2,500 homes annually, the company says.

It is Gaelectric’s sixth operating wind farm in the State, with a further three in Northern Ireland. Overall, the company has 19 wind farm projects across Ireland, including those under construction and at planning stage.

The opening of Leabeg brings its total operating capacity to 175MW, almost half way to its target of 400MW by the end of next year.

The company estimates that the wind farm will reduce carbon emissions by about 6,000 tonnes annually. It will also pay out €10,000 annually over the estimated 25-year lifespan of the project into a fund for community projects.

Gaelectric is thought to be mulling a potential sale of its Irish wind farm interests. It reportedly retained investment bank Rothschild to canvass potential buyers earlier this year, with the equity in the portfolio estimated at between €250 million and €350 million.

The company is believed to be considering investing in other renewable energy projects.