The Italian wind energy operator, ERG, has announced its acquisition of Craiggore Energy Ltd from the Renewable Energy System (RES) Group.
The firm has acquired a 100% stake in the Northern Irish business, which is the holder of authorisations for the construction of a wind farm in Derry.
The €41mn (US$46mn) farm will feature 10 wind turbines, and will have the energy capacity of 25MW – enough to power 21,500 households in the region.
The energy project is also anticipated to offset 43kt of carbon dioxide emissions.
Construction on the wind farm, which will have 87GWh per annum, is expected to launch in the final quarter of 2019.
Start-up for the project is expected to begin in April 2021, following the farm’s connection to the national grid.
The acquisition aligns with ERG’s strategy to expand its operations outside of Italy.