Commerz Real has secured a new wind farm in the Irish midlands for its Klimavest sustainable infrastructure investment fund.
The acquisition of the 57.6MW Moanvane Wind Farm in County Offaly marks the first entry into the Irish renewables market for Klimavest.
The wind farm, developed and sold by Statkraft, has been in operation since the end of September 2024 and is located about a 90-minute drive west of Dublin. It comprises 12 Nordex turbines with an installed capacity of 57.6MW.
The wind farm provides the fund with guaranteed remuneration based on a 15-year corporate power purchase agreement.
Global head of Green Deal Infrastructure at Commerz Real Michael Henn said: “Ireland is a very attractive location thanks to its unique and favourable wind conditions which come close to offshore environments.
“Wind energy is accounting for a third of the country’s power supply and has developed to an increasingly relevant contributor to Ireland’s energy mix.”
Statkraft will remain involved and will continue to provide operational management services at Moanvane.
The site also includes an amenity trail, which is currently under construction and due for completion early next year. The 6km trail will be open to the public and will offer a safe walking route, while integrating biodiversity measures to enhance the local eco-system.
Managing director of Statkraft Ireland and UK Kevin O’Donovan said: “I am pleased to confirm the successful sale of Moanvane. The journey has not been an easy one. It has taken our team in Ireland over 10 years to reach this stage on this project, highlighting the ongoing challenges of delivering onshore and offshore wind projects within a realistic timeframe.
“Despite these hurdles, Statkraft remains dedicated to continuing to make a significant impact in Ireland's energy landscape.
“It is only by increasing renewables on the system that we will reduce our dependence on expensive gas and minimise our exposure to price spikes.”
