“As a result of a co-development agreement between the two companies, the project will be financed with long-term debt from Bank of Ireland,” ESB and Coillte said in a statement this Tuesday.

The €64m project received planning permission from An Bord Pleanála in 2013 for the construction of 14 wind turbines on 16.5ha of Coillte’s forestry land in the Ballyhoura mountains near Charleville. Each turbine may measure up to 126m and the project includes construction of a transformer station and an underground cable to Charleville.

ESB and Coillte expect to complete construction next summer.

Residents and environmentalists raised concerns about the visual impact of the wind farm on the landscape and its effect on endangered birds during the planning process, and An Bord Pleanála attached conditions to the planning permission.

According to the ESB and Coillte, the turbines will generate 33.1MW, which is enough power for approximately 17,000 households annually.

The companies said that the project would contribute to their respective wind power generation objectives of 1,600MW for the ESB and 400MW for Coillte.

Planning permission approved for €320m Mayo wind farm

ESB and Coillte secure funding for Co Cork wind farm

The ESB and Coillte have announced a deal with Bank of Ireland to finance the construction of 14 wind turbines at Castlepook in north Cork.