THE ESB’s clean technology investment fund, Novusmodus, has invested €20 million in Limerick firm Wind Energy Direct, a company that finances, installs, owns and maintains wind turbines for commercial and industrial clients who are large energy users.

The small-scale wind company has been largely ignored by utilities, but both companies believe it is a growing business proposition here and in Britain, where several companies are already active.

The potential market here is worth up to €600 million in project value, while the British market is worth up to €6 billion, according to Wind Energy Direct managing director Dominic Costello.

The investment will enable the company to develop 36 on-site projects here and in Britain, adding up to 54MW of wind generation capacity.

Established in 2006, Wind Energy Direct employs 10 people and will create 10 jobs over the coming months. An additional 80 indirect jobs will be created on a project-by-project basis in the construction, operation and maintenance of wind turbines.

It plans to leverage the investment to invest a further €80 million in expansion over the next three years, during which time it aims to install 100MW of wind at client sites.

“This investment will allow Irish businesses to maximise the opportunity for auto-generation exploitation of their wind and land resources with a well-funded, expert developer,” Novusmodus managing partner Michael Aherne said. “Their offering represents an excellent economic and environmental proposition for large energy users at a time when we need to move from our over-dependency on fossil fuels.”