The European Investment Bank (EIB) is to provide a €155 million loan to Bord Gáis.

The funds will contribute to the construction and operation of 6 onshore wind farms in Counties Tipperary, Clare and Kilkenny.

The expansion programme is expected to be completed by 2014 and will see an overall investment of €311 million.

Bord Gáis Energy says this is a major vote of confidence in the policy of the  Irish government for promoting wind energy development here. 

The programme will increase the operational wind capacity of Bord Gáis wind farms to 365 megawatts which is an increase of more than 50%.

Long-term targets

The group says the scheme will also help Ireland to achieve its target of ensuring that 20% of energy production is from renewable sources by 2020.

The company owns and operates 132 turbines on 13 wind farms in 8 counties - Kerry, Cork, Limerick, Clare, Tipperary, Kilkenny, Donegal and Tyrone.  

EIB Vice-President Mihai Tanasescu said "The European Investment Bank backs renewable energy investment across Europe and is pleased to work closely with Bord Gáis to ensure Ireland plays a key role. Completion of these projects will contribute to the achievement of the Irish Government’s renewable energy targets".

Over the last 5 years the Bank has provided more than €1.4 billion for energy infrastructure in Ireland including renewable energy, improvements to transmission, electric car infrastructure and gas power generation.