Bowen Group, one of the country’s biggest construction groups has announced a strategic move into the biomass energy sector, according to the Irish Examiner.
It is planning a €25 million investment over the next five years to fund up to 100 projects that will create electricity from wood chip.
Imperative Energy is the joint venture vehicle between Ireland’s largest private forestry management company, Green Belt of Virginia, Cavan, and Little Island-based Bowen Group, one of Ireland’s largest construction organisations.
The new company can provide a complete solution for the design, installation, operation including fuel supply and ash removal, and 24/7 maintenance of eco-friendly energy systems, said Joe O’Carroll, managing director of the new company, which is based in Kildare.
Its ambition is to install up to 135 megawatts of biomass-fuelled heat from local forestry sources, which is equal to 50 million litres or about €25m worth of imported oil.
Mr Carroll said he was comfortable with the targets for the next five years.
“In effect the company will be taking all of the capital risks and giving clients electricity at a cost that is 10% lower than what it can get from the ESB”.
This form of energy is good for the environment also and when fully implemented will result in a reduction of 200,000 tonnes in carbon emissions.
The 135 megawatts of energy is sufficient to heat on average 15,000 homes — a town the size of Naas or Drogheda — 700 schools, 135 hospitals, or 65 pharmaceutical plants using only locally produced wood chip.
One of the great advantages of wood chip is that it is renewable and not reliant on weather, like wind energy, so that it offers instant power to users, Mr Carroll said.
The wood will be supplied from Irish forests, ensuring the entire operation is Irish driven.
“We are offering cleaner, cheaper energy with immediate cost savings of at least 10% over oil and gas, and the long term benefits of a secure and stable supply from local, sustainable sources,” he added.
Minister for Communications, Energy and Natural Resources Eamon Ryan said the business model being pursued adds greater value to Irish forestry produce and contributes to the Government’s aim of reducing greenhouse gas emissions through renewable energy technologies.
The group is also pioneering the delivery of wood chip energy supply contracts where all equipment is funded by the company so there is no up front capital cost for the customer, who will only pay for the energy they use.
Already the group has secured two such contracts in Ireland — at the Abbey Manor Hotel in Leitrim, and at the Abbey Vocational School in Donegal.
It is planning a €25 million investment over the next five years to fund up to 100 projects that will create electricity from wood chip.
Imperative Energy is the joint venture vehicle between Ireland’s largest private forestry management company, Green Belt of Virginia, Cavan, and Little Island-based Bowen Group, one of Ireland’s largest construction organisations.
The new company can provide a complete solution for the design, installation, operation including fuel supply and ash removal, and 24/7 maintenance of eco-friendly energy systems, said Joe O’Carroll, managing director of the new company, which is based in Kildare.
Its ambition is to install up to 135 megawatts of biomass-fuelled heat from local forestry sources, which is equal to 50 million litres or about €25m worth of imported oil.
Mr Carroll said he was comfortable with the targets for the next five years.
“In effect the company will be taking all of the capital risks and giving clients electricity at a cost that is 10% lower than what it can get from the ESB”.
This form of energy is good for the environment also and when fully implemented will result in a reduction of 200,000 tonnes in carbon emissions.
The 135 megawatts of energy is sufficient to heat on average 15,000 homes — a town the size of Naas or Drogheda — 700 schools, 135 hospitals, or 65 pharmaceutical plants using only locally produced wood chip.
One of the great advantages of wood chip is that it is renewable and not reliant on weather, like wind energy, so that it offers instant power to users, Mr Carroll said.
The wood will be supplied from Irish forests, ensuring the entire operation is Irish driven.
“We are offering cleaner, cheaper energy with immediate cost savings of at least 10% over oil and gas, and the long term benefits of a secure and stable supply from local, sustainable sources,” he added.
Minister for Communications, Energy and Natural Resources Eamon Ryan said the business model being pursued adds greater value to Irish forestry produce and contributes to the Government’s aim of reducing greenhouse gas emissions through renewable energy technologies.
The group is also pioneering the delivery of wood chip energy supply contracts where all equipment is funded by the company so there is no up front capital cost for the customer, who will only pay for the energy they use.
Already the group has secured two such contracts in Ireland — at the Abbey Manor Hotel in Leitrim, and at the Abbey Vocational School in Donegal.
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