Bord na Móna reported an operating profit of €31.9 million for the financial year to April 2025, according to its latest accounts.
The healthy return is recorded in the State-owned company’s first financial year operating as a fully renewable energy provider.
Over the 12 months, BnM, which once had a big presence in Laois, says it delivered several 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 the 2025 financial year, comprised of €95 million in wholly owned projects and €16 million in joint ventures.
BnM, which is owned by taxpayers, also reports that it 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.
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.
The semi-state comercial company says 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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BnM says it 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,” he said.
The company aims to exit the waste and recycling business with the planned sale of Bord na Móna recycling.
