I am advised that Coillte is empowered to develop and build wind farms having regard to the company's objectives as set out in Section 12 of the Forestry Act 1988 and the objectives in the company's memorandum of association.
The Forestry Act 1988 provided for the establishment of Coillte Teoranta as a company to be registered under the Companies Acts. Section 12 of the Forestry Act 1988 provided inter alia that the principal objects of the company shall be stated in its memorandum of association to be:
a) To carry on the business of forestry and related activities on a commercial basis and in accordance with efficient silvicultural activities,
b) To establish and carry on woodland industries,
c) To participate with others in forestry and related activities consistent with its objects, designed to enhance the effective and profitable operation of the company, and
d) To utilise and manage the resources available to it in a manner consistent with the above objects.
The vires of a statutory company, such as Coillte Teoranta, are governed both by its memorandum of association as registered in the Companies Registration Office and by the statute that has required or permitted the registration. As a commercial company, Coillte's remit includes the optimisation of the commercial potential of its assets.