Bord na Móna in healthy state as profit of €31.9 million recorded

A COLOSSUS which bestrode the Midlands counties for most of the 20^th century is in a healthy financial state after reinventing itself as a renewable energy company.

Bord na Móna Plc (trading as BnM) reported an operating profit of €31.9 million for the financial year 2025 (March ’24 – April ’25) last week.

This is the company’s first financial year operating as a fully renewable energy provider committed to delivering secure energy supply for Ireland.

The year marked a period of continued strategic progress and milestone developments for BnM as the company further expanded its renewable energy offering.

Over the 12 months, BnM successfully delivered several significant renewable projects including the Derrinlough Wind Farm, the Cloncreen Battery Energy Storage System and the company’s first solar farm Timahoe North (developed with joint venture partner ESB), adding 260MW of new generation capacity to the grid.

A total of €111 million was invested in renewable energy infrastructure during FY25, comprised of €95 million in wholly owned projects and €16 million in joint ventures.

BnM also advanced its €1 billion joint venture with SSE Renewables, which has the potential to deliver up to 800MW of new onshore wind capacity – representing one of the largest onshore wind joint ventures in Ireland.

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The company now operates an active portfolio of 1GW in renewable energy assets, while progressing a 5GW pipeline of onshore wind, solar, battery storage and longer-term offshore projects. More than €50 million has been invested in grid development by BnM over the last five years to enable this volume and pace of growth.

A total of 2,778 hectares of former peatlands were also restored in the past year through BnM’s dedicated Peatlands Climate Action Scheme – with these rehabilitated bogs now supporting carbon sequestration and the restoration of natural habitats for various species of plants and wildlife. This peatlands rehabilitation activity remains a core facet of BnM’s long-term environmental stewardship.

BnM’s financial performance in FY25 enabled further investment in local enterprise, education and community impact. The company invested €1.4 million in its renewable energy community benefit funds over the past year, supporting a wide range of initiatives including educational initiatives, near neighbour schemes and local business development.

Its wind farm scholarship programmes at Cloncreen and Oweninny supported 22 students, with over €165,000 committed to learners pursuing studies in science, technology, engineering, mathematics and sustainability.

Through the Accelerate Green programme, BnM has provided training, mentoring and scaling support to more than 60 sustainability-focused companies, and enabled the creation of over 700 jobs since the programme’s launch in 2022. 35 businesses participated in the FY25 Accelerate Green programmes and now join the growing alumni contributing to climate innovation and the development of Ireland’s green economy.

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Additionally, BnM has helped employees who formerly worked in peatland operations to pursue independent business ventures through its New Beginnings: Start Your Own Business Programme. Since it commenced in 2023, 20 new businesses have been formed by former employees, resulting in the creation of 35 new jobs across the Midlands.

BnM has also published its FY25 Sustainability Update outlining key sustainability metrics and milestones over the course of the year. BnM has reported a 38% decrease in its Green House Gas (GHG) emissions year-on-year, an increase of 9% renewable energy generation versus the year previous, and it has also reached a peatlands rehabilitation milestone of 20,000 hectares since the company’s Peatlands Climate Action Scheme commenced.

Commenting on the results, BnM Chief Executive Tom Donnellan said: “FY25 was significant for BnM, marking our first complete year operating as a fully transformed renewable energy business, advancing our development of large-scale infrastructure, progressing strategic joint ventures, and scaling our clean energy portfolio.

The company has continued to perform well in the past 12 months with the successful delivery of five significant renewable energy projects contributing to an active portfolio capacity of 1GW."