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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 brownfield
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.
Source - The Irish Times
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