Neoen, BNRG secure financing for 58 MWp of solar in Ireland

• French renewable energy company Neoen SA (EPA: NEOEN) and its Dublin-based peer BNRG Renewables Ltd have actually wrapped up financing for 58 MWp of solar projects in Ireland, the partners announced on Thursday.

They claimed that the project costs will certainly get to about EUR 39 million (USD 45.7 m), leaving out funding expenses. Neoen and BNRG are setting up equity, while French bank Societe Generale SA (EPA: GLE) is providing a non-recourse elderly financial debt center, according to a joint press release.

The 58-MWp profile includes three projects, named Hilltown, Hortland and also Millvale. The trio were successful in the Irish federal government's initial Renewable Electricity Support Scheme (RESS 1) auction in 2020.

The solar output will be offered under power acquisition contracts (PPAs) sustained by the Irish federal government through a contract-for-difference device running up until 2037.

Construction works with the projects are underway. Contracts for engineering, procurement and also construction (EPC) and also operation as well as upkeep (O&M) were granted to France's Omexom.

Commissioning is set for the very first half of 2022, Neoen as well as BNRG stated.