ElectroRoute enters into a long term service agreement with Mayo Renewable Power Limited 08 Jun 2015
ElectroRoute is delighted to announce that it has entered into a long term service agreement with Mayo Renewable Power Limited, a 42.5MW Electricity Generating Station and Biomass Fuel Processing Facility to be built in Killala in County Mayo.
Under the long term service agreement, ElectroRoute will be operating and managing the sale of the power plant’s energy into the Irish Single Electricity Market on a 24*7 basis in what is commonly known in the market as a "Supplier Lite" structure. This provides the Plant with an efficient and independent route to market. ElectroRoute shall also be supporting the plant during its transition to the new energy market arrangements in 2017.
The plant, which will be fuelled by woodchip biomass, is certified as a high efficiency, combined heat and power facility with a project cost of €180 million and qualifies for Ireland’s Renewable Energy Feed-In Tariff (REFIT) programme. The plant commenced construction in June 2015 and is funded by debt from Ulster Bank Ireland Limited, Allied Irish Bank p.l.c., and Barclays Bank Ireland PLC alongside equity invested by Weichert Enterprise LLC, a U.S. private equity concern.
ElectroRoute is an energy trading and services company based in Dublin. ElectroRoute has a trading presence across eight European countries and trades energy along the entire curve with spot trading, futures trading, cross border trading and green certificates trading. In addition to its trading activities, ElectroRoute has a services business which is focused on the provision of managed trading services to non-utility owned assets.
For more information, please contact Caoimhe Giblin at +353 1 901 9613 or firstname.lastname@example.org