Ireland is a prime location to take advantage of strong wind resource, and a place where wind is a competitive source of electricity in a natural gas fired market. In 2014, Brookfield acquired a portfolio of operating onshore wind farms with top-tier technologies throughout the country and a greenfield development pipeline.
Brookfield supported investment in technology to provide enhanced data to optimize fleet performance, capture the best wind yields and improve operational efficiency. Working with the management team, we continued to develop and construct the development pipeline, and we succeeded in expanding the initial platform to over 700 MW of total operating assets (prior to asset sales). The greenfield development pipeline has continued to grow both organically and through acquisition, creating opportunities for future Irish wind additionality.
Brookfield leveraged its global expertise to expand the business to become a fully integrated platform with power trading, corporate contracting for power purchase agreements (PPAs), operating and growth capabilities. This platform is responsible for developing PPAs to support growing corporate demand for fully traceable green power contracts in Ireland.
Key to the success of the portfolio was Brookfield’s long-term view, operational expertise and ability to utilize relationships around the world. Additionally, on-the-ground teams constantly monitored the country to identify key development sites, build landowner relationships and work closely with the local communities.
Brookfield sold the business with more than 380 megawatts of operational and ready-to-build assets and approximately 300 megawatts of development opportunities.
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