Infranity Fuels Ireland's Solar Surge with Omnes Investment

• Infranity's strategic investment in Power Capital Renewable Energy accelerates Ireland's solar and storage growth, unlocking nearly 1 GW of new projects.

Infranity, backed by Generali, has agreed to invest in Omnes’ Irish solar-and-storage platform, Power Capital Renewable Energy (PCRE). This investment will provide fresh equity to a developer-operator with hundreds of megawatts either operating or under construction, and nearly 1 GW ready to begin. The deal, which is subject to regulatory approval, is expected to close by the end of September. The investment is a minority stake alongside Omnes’ existing control, a common structure in European renewables where patient capital partners with specialist platforms to scale operations.

The move is seen as pivotal for accelerating several gigawatts of Irish solar and battery energy storage system (BESS) projects. Ireland's auction framework and transmission upgrades are enabling utility-scale photovoltaic (PV) projects in a system traditionally dominated by wind. Co-located batteries are crucial for managing midday generation and evening peaks. With new equity, PCRE can proceed with procuring essential equipment like transformers and inverters. The platform is expected to continue blending corporate power purchase agreements (PPAs) with auction-backed revenues, potentially quickening Ireland’s solar development pace through 2026–2028.

How will Infranity's investment impact Ireland's solar and battery energy storage projects?

• Accelerates the development of solar and battery energy storage projects in Ireland.
  
• Provides necessary capital for procuring essential equipment such as transformers and inverters.
  
• Enhances the ability to manage energy generation and consumption peaks with co-located battery systems.
  
• Supports the diversification of Ireland's energy mix, traditionally dominated by wind, by boosting solar capacity.
• Facilitates the scaling of operations through a partnership model, combining patient capital with specialized expertise.
  
• Strengthens the platform's ability to secure corporate power purchase agreements (PPAs) alongside auction-backed revenues.
  
• Potentially speeds up the timeline for solar project completions, contributing to Ireland's renewable energy targets for 2026–2028.
• Encourages further investment in Ireland's renewable energy sector by demonstrating successful collaboration models.