Sharon Corr

Full Circle

Bord Na Móna To Raise €1.6 Million For Renewable Energy Projects

It's appointed a financial firm to help fundraise.

Bord na Móna is to raise €1.6 billion to fund renewable energy projects. 

It's appointed a financial firm to help fundraise for large wind and solar projects, which will be delivered over the next ten years. 

The company anticipates it will be generating enough renewable energy by 2030 to power a third of the homes in Ireland. 

A planning application is in for the Derrinlough Wind Farm and construction is underway at its site in Cloncreen.

Chief Financial Officer with Bord na Móna JP McGrath is confident the company can deliver for investors:

The company says it has a very bright future ahead, despite the wind-down of peat production in the midlands.

Mr. McGrath says with increased investment in wind and solar developments, they hope to have annual earnings of €150 million before tax by 2030.

He says they're confident about the future:

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