The money raised through the share offer will go towards the construction of two 250kW wind turbines, which will be installed at two separate sites and connected to the local electricity distribution network.
The construction will be undertaken on behalf of Drumlin by independent specialist companies in Northern Ireland under the supervision of Blunden Consultancy and NRG Solutions, experts in renewable project management and turbine construction.
Drumlin has the contractual right under an agreement with NRG Solutions to enter into sub-leases with NRG Solutions enabling it to construct and operate a turbine on each of the two sites. After commissioning, Energy4All and NRG Solutions will manage the ongoing operational, monitoring and maintenance aspects of the project for Drumlin.
A Turnkey Contract was signed with WEP on 8th July 2013 for the construction of four 250kW wind turbines at the Cavanoneill, Aghafad, Ballyboley and Parkgate sites. Work began in July 2013 and in December 2013 the process of erecting the turbines at each site started. Cavanoneill commenced generation on 21 January 2014, Aghafad has started generating in March 2014, and negotiations are ongoing regarding the dates for grid connections at Ballyboley and Parkgate, with latest scheduled dates being June for Ballyboley and August for Parkgate.
Good to know…
Wind turbines are categorised by a theoretical rated output, based on a presumption that the wind blows consistently at the optimum speed. The financial projections are based on P50, which is intended to produce a figure which will be exceeded 5 years out of 10, and provide a good indication of average energy yield over the life of the project.
Wind turbines are designed to respond automatically to changing wind conditions. Wind turbines will benefit from a manufacturer’s warranty and operation and maintenance agreement. As the wind turbines age, mechanical parts may need replacing but modern wind turbines are normally extremely reliable.
Understand more about wind energy with our guide.
Watch our video on investing in wind here.