Coillte and ESB recently launched an new joint venture company for renewable energy development, Futur Energy Ireland.
The two semi-state companies have joined forces with the chief aim of assisting in the delivery on 2030 renewable energy targets and achieving new zero emissions by 2050, as set out in the Climate Action Plan 2021. FuturEnergy Ireland is looking to develop 1GW of wind energy projects by 2030 while ensuring support from local communities. Coillte’s portfolio of proposed wind farm projects and its Renewable Energy arm have now transferred to this new joint-venture. Currently, there are a number of projects that are either in the planning system awaiting decision or preparing to enter the planning process.
FuturEnergy Ireland chief executive, Peter Lynch, a former managing director of Coillte’s Renewable Energy Division, outlined the vision for the new company, saying, “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,” while adding, “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.”