Ireland’s Greencoat Renewables has completed the acquisition of a 50% stake in the 80.5 MW South Meath Solar Farm in County Meath, located in the east of the country. The stake formerly belonged to Norwegian hydropower company Statkraft.
The transaction has been completed in partnership with funds managed by investment manager Schroders Greencoat, who have acquired the remaining 50%.
Greencoast has also entered into a long-term power purchase agreement (PPA) with a technology company for 100% of solar farm’s production.
“As the largest operator of wind assets in Ireland, we remain focused on delivering PPAs with large, highly reputable counterparties,” said Paul O'Donnell, partner at Schroders Greencoat. “As such, we are delighted to have signed a long-term agreement with one of the world’s leading technology companies as part of this transaction.”
This latest PPA in Ireland follows two signed by Greek energy company Mytilineos in May.
A recent report by the Irish Solar Energy Association found Ireland almost doubled its solar capacity last year, driven by a “remarkable” surge in utility-scale solar.
Earlier this year, Schroders Greencoat acquired Toucan Energy’s UK solar portfolio, consisting of 53 operating solar farms.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.