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ERG completes acquisition of Corlacky Energy

ERG, through ERG UK Holding, completes the acquisition of 100% of the shares of Corlacky Energy owned by RES.

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ERG, through ERG UK Holding, completes the acquisition of 100% of the shares of Corlacky Energy owned by RES.

A favorable exposure

ERG announces the acquisition of Corlacky Energy from RES. With this acquisition, the company continues to grow in the UK. RES holds the permits for the construction and operation of the Corlacky wind farm in Northern Ireland.

The Corlacky wind farm project consists of 11 turbines with a total planned capacity of 47MW. The site benefits from an advantageous exposure with regard to high wind speeds. Thus, the wind farm will have an annual production capacity of approximately 175GWh.

Return on investment

ERG’s newly acquired Corlacky fleet could save approximately 80kt of carbon dioxide emissions. In addition, it will cover the energy needs of over 42,000 households. Construction of the wind farm is expected to begin in the first quarter of 2024.

In addition, the connection to the national grid would take place in the second half of 2025. The total investment amounts to more than €90 million, including purchase costs. In addition, once fully operational, the EBIDTA of the wind farm would amount to over €10 million.

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