Expected to play an important role in helping Ireland meet its target of achieving 70% renewable energy by 2030, the Sceirde Rocks offshore wind farm in Galway Bay will be able to power up to 295,000 homes, while offsetting carbon emissions by up to 457Kt CO2 emissions annually
Green Investment Group (GIG) has acquired Fuinneamh Sceirde Teoranta (FST), the developer of the proposed 400MW Sceirde Rocks offshore wind farm in Galway Bay, Ireland.
The financial terms of the deal were not disclosed by the Macquarie Group subsidiary.
The Skerd Rocks project, which marks the first offshore wind investment for GIG in Ireland, will generate enough electricity to power up to 295,000 households, upon commissioning.
The Irish wind farm is also projected to offset carbon emissions by up to 457 kilotonnes (Kt) CO2 emissions annually.
It is planned to be built nearly 5km to 8km off the Carna coast in County Galway.
Green Investment Group project director Séamus McCabe said: “The Sceirde Rocks project is set to be a flagship development for the West of Ireland, which is home to one of the best wind resources in the world.
“It offers an exciting opportunity to launch a new industry along the Atlantic Economic Corridor, supporting a range of jobs and creating economic opportunities that will bring people back to Connemara.”
The Sceirde Rocks wind farm is among the seven projects to get the ‘relevant status’ designation from the Irish Department of Environment, Climate Action and Communication. The seven offshore wind farms have a combined capacity of up to 3.48GW.
According to Green Investment Group, the designation puts the Sceirde Rocks facility in the first wave of offshore wind projects in Ireland that are slated to go online by the end of this decade.
The Sceirde Rocks offshore wind farm is expected to play an important role in helping Ireland meet its target of achieving 70% renewable energy by 2030. To reach the target, the country is allowing development of more than 5GW of offshore wind capacity by the end of 2030.
Besides, Sceirde Rocks is anticipated to boost the domestic energy production in Ireland. It will also enhance the country’s energy supply security by bringing down its dependence on imported coal, oil, and gas.
Fuinneamh Sceirde Teoranta director Joe Lee said: “This project will be the largest ever infrastructure project in Connemara and will position Galway as a leader in Ireland’s new green energy economy.
“In order to achieve that, it was vital that we brought in the financial and technical capabilities that GIG can deliver. Our team has been rooted in Connemara from day 1.
“We have had exceptional support from the local community, and from agencies such as Údarás na Gaeltachta, and look forward to continuing these relationships with GIG.”