Investing in Wind Power in Ireland
On the island of Ireland, electricity must be bought and sold in the Single Electricity Market (“SEM”), ensuring that a common price is set for electricity generated at any given time. However, renewable electricity generation stations such as wind turbines or hydroelectric plants of less than 10MW capacity are not obliged to sell electricity within the SEM in Ireland. These generators can obtain a Power Purchase Agreement from an electricity supply company such as the NIE and sell electricity direct to the supply company outside of the SEM.
The pivotal economic incentive for installing renewable electricity generating stations, such as wind turbines, is the Northern Ireland Renewables Obligation.
Recent changes in the UK and NI legislation, government policy and supporting instruments for the renewable market, has resulted in widespread interest in the installation of wind energy technology in NI. The current Renewable Obligation Certificates (ROCs) structure or its UK alternative – Feed In Tariffs (FITs), give the market long term stability via 20 year contracts at incentives that should result in a 18% – 22% return on investment for wind energy.
From 1st April 2010, wind turbines up to and including 250kW in Northern Ireland receive 4 Renewable Obligation Certificates (ROCs) per MWh generated. The current average trading price for 1 ROC is £48.63 per MWh. These ROC’s can be sold to electricity supply companies which use them to fulfil their obligation of supplying renewable electricity to customers.
This Renewable Obligation Certificates Scheme is guaranteed and underwritten by the NI Government for a period of 20 years which provides great opportunities for small to medium sized ‘long term and secure investments’ with a high return and a short period of time on ROI (Return of Investment)
Over recent years, a number of studies have highlighted the value of NI’s natural wind energy resource; indeed NI is regarded as having one of the richest wind energy resources in Europe. In 2003, the Department of Enterprise Trade and Investment commissioned a detailed wind mapping exercise to help identify the areas of particular potential. This exercise confirmed the very significant wind resource in NI. The predicted mean wind speed and power in most such locations across NI is in the range of 6 to 7 m/sec and in many other locations even up to 8 to 10.5 metres per second which is regarded as highly sufficient to support economical wind energy projects.
From the end of 2010,MyWindpowerSystem Limited (“MWPS”) started to develop single turbine installations for sizes up to 250kW in N Ireland and is currently project managing the development of multiple single turbine installations.
MWPS can help you to make a sound investment in the Alternative Energy Market withhigh returns and the shortest possible ROI (Return On Investment).
In Northern Ireland, MWPS:
….has established strong ties and relationships with local wind energy companies as well as with local residents/landowners across N Ireland
….has built up a folio of readily available and suitable sites with planning permissions already in place, which are immediately available for leasing directly from the landowners.
…..has gained in-depth knowledge of the local wind energy market, N Ireland’s infrastructure the processes and procedures required for single 250kW wind turbine installations,
…..has key contacts at all levels of the relevant local county departments
…..is fully equipped to drive such projects from a start to finish in the shortest possible time.
…..is able to provide the management of legal, administration, planning, construction, installation and commissioning works as well as the management of ‘site after care’ and maintenance and repair services.
For a detailed investment plan please submit your details below: