A 42.5-megawatt electricity generating station and biomass fuel processing facility is to come up at Killala in Mayo County, Ireland. The power expected to be produced at facility, to be developed by Mayo Renewable Power (MRP) would be adequate to meet the base load requirement of 42,000 homes.
MRP, the united states-backed developer, has stated that it has closed finance for the venture.
The combined heat and power facility, which uses woodchips as fuel, will require 180 million euros to establish. According to the statement, it qualifies for Ireland’s Renewable Energy Feed-In Tariff (REFIT) programme.
The Irish Times has reported that the plant would initially burn woodchip imported from the US, and that the developers were keen on sourcing biomass from Irish suppliers. The newspaper also reports that MRP is building the plant at the site of the old Asahi factory in Killala.
Further, the company has stated that it will borrow from a group of three banks — Ulster Bank Ireland Limited, Allied Irish Bank, and Barclays Bank Ireland — for the project.
Also, US private equity firm Weichert Enterprise will be investing equity in the project. MRP has reported that it has received necessary permits and should be able to begin construction soon and ready the facility for commercial operation by mid-2017.
Ajith Kumar S