RENEWABLE ENERGY PROJECT COULD DELIVER £20M INVESTMENT FOR NORTH COAST
A multi-million pound renewable energy project planned for the Limavady area could bring £20 million of investment for the local economy.
ARC NI 1 Ltd part of the Windyfields Group has submitted a planning application for 21 wind turbines of 3.3 MW output each on the Windy Hill Road outside Limavady marking the company"s second planned wind farm in Northern Ireland. The total cost of construction of the project is expected to be in the region of £70 million, of which Northern Ireland could receive approximately £20 million.
Commenting on the announcement the company"s General Manager Gavin Forkan said:
An investment of this scale would provide a much needed boost for the local construction sector as well as the Limavady and greater North Coast area which has been badly hit by the economic downturn. Windyfields is committed to investing in and supporting the local economy to ensure economic benefits of these types of projects are felt locally. We have been working closely with the families of local landowners involved and are greatly encouraged by their support and commitment to this project which should benefit many people across the area.
A Socio-Economic Report undertaken for the project found that the proposed wind farm would help stimulate the local economy. Outlining the key findings of the report, Neil McCullough of Oxford Economics said:
Limavady has the fourth highest level of unemployment across Northern Ireland"s 26 Council areas and the local economy is forecast to experience a very ‘jobless’ recovery going forward with no notable job creation until 2022.
It is estimated that the construction phase alone could deliver approximately £11.8 million in wages and approximately 540 job years of direct, indirect and induced employment. The ensuing operation of the development could create or sustain jobs and the project would also generate significant land and property rates for the local Council and Government and reduce the cost of unemployment in the area. Furthermore, our analysis suggests that this development could bring significant wider social and economic benefits to the area.
Highlighting the environmental benefits, Gavin added:
The wind resource in Northern Ireland is among the best in Europe and it is estimated that approximately 182,000 MWhr of wind energy would be produced each year at the Windy Hill site. This could be enough electricity each year to meet the needs of approximately 42,000 homes (using Ofgem figures) and 55,000 homes (using DECC figures) and could reduce CO2 emissions by approximately 78,000 tonnes each year when operating. This project could bring substantial economic and environmental advantages to the greater Limavady and North Coast area.
Ross Williamson, Weber Shandwick
Mob: 07590227961 / 07734821070
Notes to Editors:
The Windyfields Group is a renewable energy company that was originally established in 2009 to focus on developing onshore wind power opportunities. With offices in London, Belfast, Poznan, Sofia, Belgrade and Nicosia, Windyfields has extensive experience and a portfolio approaching 1000 MW in its development pipeline.
Earlier this year the company submitted and planning application for a 42 MW project near Omagh, Co. Tyrone
The company has also recently installed an 80m wind measurement mast at both of its Omagh and Limavady sites.
Funding Opportunity - REI
Windyfields Holdings is currently accepting new equity investments from institutions and high net worth individuals. Funds will be used to take the first four projects to a fully consented state in 2013!
Second wind measurement mast constructed in Poland
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First wind measurement mast constructed in Poland
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RenewableUK conference in Glasgow
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