Solar JV shuts 242MW Irish PV money

• Highfield Solar will certainly have both projects online in Ireland in 2022

A joint venture of German attire Ib Vogt, Irish firm Highfield Energy and also UK business Aura Power has gotten to financial close on a EUR160m project funding debt center for 2 solar plants amounting to 242MW in Ireland.

The loan providers for the projects are Cooperatieve Rabobank, Landesbank Baden-Wurttemberg and Norddeutsche Landesbank, giving one 3rd of the elderly debt each, containing a mix of KFW and also business financings.

The projects are the 141MW Rosspile to be found on an 140-hectare site near the town of Foulksmills in Region Wexford, and also the 141MW Gillinstown plant to be located on a 123-hectare site near the village of Duleek, Area Meath.

Both projects will use high-capacity bifacial modules on fixed-tilt support frameworks for optimised land use and also performance.

Work with the grid link facilities has currently begun and also solar construction is anticipated to be completed in July 2022 for Rosspile and also October 2022 for Gillinstown.

Ib Vogt has actually supplied advancement funding and also technological design support to Highfield Solar as well as will give EPC and first procedure as well as maintenance solutions for the projects.

The projects were successful participants in Ireland's very first competitive Renewable Electricity Support Scheme (RESS 1) auction run by the Department of the Environment, Climate and Communications in 2020.

The Highfield Solar JV was developed in 2014.

Highfield Energy handling supervisor Peter Kavanagh stated: "We are delighted to have reached this substantial turning point as well as we are currently expecting finishing both of these Solar PV projects. This is the result of years of preparation and financial investment.

" The 3 partners have actually appreciated an extremely positive relationship and combined their sources, capacities, experience as well as expertise to create these excellent projects.

" As a business based in Ireland, we are hugely pleased with our duty in attracting such significant financial investment right into the nation for a renewable electricity generation project.

" It is additionally extremely important to us that the establishment of the connected community benefit funds will make significant payments to the corresponding localities over the following years and also beyond."

Ib Vogt handling supervisor Anton Milner claimed: "The cooperation with our joint endeavor partners Highfield Energy and Aura Power has been superior and closing on these projects shows the devotion of all included events to bring tidy energy to Ireland.

" Ending the financing process would certainly not have actually been possible without the conviction of our financing companions in renewable energy projects and also their proficiency in funding them."

Aura Power supervisor Simon Coulson said: "It's amazing to see these projects accomplishing this considerable landmark after a lot of effort from all involved.

" These two projects will supply over 25% of the complete RESS1 volume awarded to solar PV as well as will ideally lead the way for much more solar PV deals in the Irish market."