The 75 MW wind farm investment is a program financed by the European Investment Bank (EIB) with the Bank of Ireland. The program is the first renewable project for the Irish government's Renewable Electiricty Support Scheme (RESS) to receive financing, and aims to meet Irish NECP targets by 2030.
It is a 100 million EUR invesment producing enough power for roughly 55,000 households. The windfarm will be aligned with Ireland's protective ecosystem regulations, such as the National Marine Planning Framework, which has laid out a regulatory regime for offshore wind plants, to ensure a sustainable use of marine resources off the Irish coast.
The project is expected to come online by 2022.