German energy group enters Irish renewables market
German energy company Innogy has entered the Irish market having acquired a wind farm site in Co Kerry. The 10.2MW Dromadda Beg wind farm will have three turbines, which received planning approval in May 2014.
Construction on the Listowel site is due to begin in September, with commissioning of each of the 144.5m turbines scheduled for the second half of 2018.
Having signalled plans to enter the Irish market when the company launched its initial public offering (IPO) in 2016, Innogy set up an Irish subsidiary in September of last year. At that time, it appointed a country manager who now has four staff working with him.
“When we launched our IPO last year Innogy outlined its intention to increase its renewables footprint by entering new markets and new technologies, and the purchase of Dromadda Beg highlights our commitment to this,” its chief executive Peter Terium said. “To grow its renewables business Innogy intends to invest between €1.5 billion and €1.7 billion from 2017 to 2019.”
