Bord na Móna and SSE Renewables have teamed up to launch a new onshore wind energy joint venture.
The partnership aims to deliver up to 800MW of power generation capacity over the coming decade through an investment of up to €1 billion.
This would be enough power to meet the average annual electricity demand of approximately half a million homes.
It would also offset around half a million tonnes of carbon emissions every year.
The new windfarms would be located on existing land owned by Bord na Móna in the midlands and the partners say hundreds of jobs would be created during construction and operation.
"The portfolio of projects contained within this joint venture will be developed through a lease agreement at sites across Bord na Móna's landbank, helping to benefit communities we have been operating in for the past 90 years," said Tom Donnellan, Bord na Móna chief executive.
"Our dedicated Community Benefit Fund will also support the local communities neighbouring our wind farm projects which could amount to annual multi-million-euro investments when all projects are fully operational."
The 50:50 joint venture includes three projects already in pre-planning - the proposed Lemanaghan Wind Farm in north-west Offaly, the proposed Littleton Wind Farm in Tipperary, and the proposed Garryhinch Wind Farm on the border of Laois and Offaly.
Collectively, if they proceed, these three sites could deliver around 250WM of new renewable energy generation capacity.
A further 550WM of additional new onshore wind energy capacity is also being planned.
SSE Renewables is contributing around €50m in equity for a 50% stake in the 800MW development portfolio.
It will be responsible for each development up to the planning consent process, funding 100% to this point.
After planning consent and grid access is secured, both Bord na Móna and SSE Renewables will fund the development on a 50:50 basis through full business case approval and construction.
"We've invested billions so far to deliver the low carbon energy infrastructure needed to help decarbonise Ireland’s energy mix," said Stephen Wheeler, Managing Director of SSE Renewables.
"Our operational onshore wind portfolio is the backbone of Ireland’s clean energy transition, and we’re currently building what will be one of Ireland’s newest wind farms, the 101MW Yellow River project in Co Offaly," he added.
