RENEWABLE ENERGY firm Gaelectric Holdings has signed a deal with XEMC VWEC to co-develop three wind farms in Ireland, with a value of €18 million.
The wind energy firm has also signed a letter of intent to co-develop Gaelectric’s remaining wind energy projects in Ireland and the US. Gaelectric chief executive Brendan McGrath said the deal with XEMC VWEC, which is part of the Chinese group XEMC, was a “significant strategic step” for Gaelectric.
“With the backing of XEMC’s industrial strength and technological capacity, and its track record and commitment to long-term relationships, we are confident that Gaelectric’s portfolio of wind farm sites will be realised to the highest commercial and technical standards,” he said.
The agreement is the first commercial deployment of XEMC VWEC wind turbines to take place in Europe.
Under the deal, the new XV90 turbines will be deployed at three Gaelectric onshore sites in Roscommon, Offaly and Westmeath.
“Gaelectric’s pipeline of wind farm projects in key locations in Ireland and the US, combined with our shared focus on innovation in renewable energy technologies, makes us ideal allies in co-developing Gaelectric’s portfolio of renewable power projects,” said XEMC group chairman Zhou Jianxiong.
