VRB Power Systems Inc. has announced that it has entered into a sale agreement with Tapbury Management Limited of Letterkenny, Co. Donegal, Ireland (Tapbury) for the sale of a 1.5MW x 8 hour (12 MWH) VRB-ESS.
Tapbury oversees the management of Sorne Hill Windfarm, a recently commissioned 32MW windfarm which is located in Buncrana, Inishowen, Co. Donegal, Ireland (Sorne). This 12MWH VRB-ESS will be coupled to phase II of the Sorne project which is an additional 6.9MW of wind power for which turbines have been ordered and are due to be installed in the Fall of 2007. This will make Sorne, at 38MW, one of the largest wind farms in Ireland. The total contract value for VRB Power from this sale is approximately US$6.3 million. The sale is subject to the execution of final contracts between VRB Power and Tapbury. The sale is also conditional upon Tapbury completing its offtake and other commercial agreements, obtaining licences and permits for the system and completing its project finance requirements. These matters are targeted to be finalized within the next 90 days. Subject to the performance results from this initial 12MWH VRB-ESS, Tapbury has the option to expand the power and storage elements of the system to cover the existing 32MW of wind power at Sorne which would equate to approximately 50 MWH's of additional VRB energy storage.
