Highfield Solar Protects EUR160 Million Funding for 282 MW Solar Projects In Ireland

• Highfield Solar secured financing of Euro 160 million for 2 solar PV projects.
• Both projects are 141 MWs each and also are expected to start building and construction by 2022.

Ireland's Highfield Solar has actually secured project financing for the construction as well as procedure of 2 solar PV projects totaling 282 MW of installed capacity. these will be the largest solar projects in Ireland.

A joint venture between a German company ib vogt, an Irish business Highfield Energy and a UK company Aura Power, Highfield Solar Limited has successfully closed on a Euro 160 million project funding financial obligation center for 2 solar PV projects in Ireland.

The financing has been led by the Coöperatieve Rabobank U.A., Landesbank Baden-Württemberg (LBBW), as well as Norddeutsche Landesbank (NORD/LB), supplying one-third of the senior debt each, containing a mix of KFW and commercial loans.

Both Solar PV projects achieved success individuals in the Government of Ireland's very first competitive Renewable Electricity Support Scheme (RESS 1) public auction. The RESS public auctions have actually been created to advertise financial investment in renewable resource and supply on Ireland's 70% renewable electricity target by 2030.

Project Details

With a complete ability of 141 MWp, the Rosspile solar PV plant will be found on a ca. 140-hectare site near the village of Foulksmills in the County of Wexford. While the other one, the Gillinstown solar PV plant with the same capacity will be located on a 123-hectare website near the town of Duleek, County Meath.

Both projects will certainly utilize high-capacity bifacial components on fixed-tilt support structures for enhanced land usage as well as effectiveness. Work with the grid connection framework has currently commenced and Solar PV building is expected to be finished in July 2022 for Rosspile as well as October 2022 for Gillinstown.

" We are delighted to have actually reached this considerable turning point and also we are currently looking forward to finishing both of these Solar PV projects. It is likewise very essential to us that the establishment of the associated area advantage funds will make substantial contributions to the corresponding localities over the next decade and also past", states Peter Kavanagh, Managing Director at Highfield Energy

Ib vogt has offered development financing and also technical design support to Highfield Solar as well as will certainly offer EPC as well as initial O&M solutions for the PV projects.

Talking on their venture, the Taking care of Supervisor of ib vogt GmbH, Mr. Anton Milner stated, "The cooperation with our joint venture partners Highfield Energy and Aura Power has actually been superior. Concluding the funding procedure would not have been possible without the sentence of our financing partners in renewable resource projects and also their skills in funding them."

Surprisingly, involvement in the RESS scheme will certainly assure that the Solar PV projects will get benefit from the funding of roughly Euro 200,000 annually for the term of RESS support of 15 years.