A NEW JOINT venture between Coillte and Bord na Móna has been announced.

It will be focused on specific areas of overlap between the companies.

They will develop tourist trails, build wind farms and explore using green energy to power electricity stations.

Over the past two years Coillte says it has worked with the Government to determine how to capture future opportunities for growth and optimise its performance.

In a statement Coillte said that it believes the decision “represents a practical approach to delivering additional value for the State as shareholder.

Coillte is committed to implementing the new joint venture, which will focus on capturing synergies in wind energy, biomass supply, shared services and green tourism.

Together Coillte and Bord na Móna own more than 525,00 hectares of land across Ireland.

Read: Bord na Móna accused of “locking out” eight staff members>

Read: Planning process criticised as Government publishes details of public consultation>

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