Irish utility ESB and forestry firm Coillte have launched a 50:50 joint venture company, FuturEnergy Ireland, which plans to develop 1GW of wind energy projects by 2030. The agreement will see Coillte's entire renewable energy business transfer into the new joint venture company. The majority of its 16 projects currently in the pipeline are either preparing to enter the permitting system or are in the permitting process awaiting adjudication.
Peter Lynch, former managing director of Coillte’s renewable energy division, will take the helm at FutureEnergy Ireland as its CEO. “With the very strong mandate received from its two shareholders, FuturEnergy Ireland is positioned to make a lasting and positive impact in Ireland’s renewable energy sector by delivering wind farm infrastructure for the benefit of all stakeholders, including local host communities," he said.
Imelda Hurley, Coillte's chief executive, added: "By successfully bringing forward its portfolio of projects, FuturEnergy Ireland can become a sectoral industry leader and standard bearer for the responsible development of renewable energy infrastructure.”