Irish solar farm developer Elgin Energy has successfully sold a portfolio comprising 16 solar projects across Ireland, boasting a collective capacity of 191 megawatts (MW), to German insurer Allianz and a consortium of institutional investors. Elgin Energy, recognized for orchestrating the UK’s largest-ever sale of solar photovoltaic (PV) projects in 2022, will continue to offer services such as asset management and optimization for the portfolio on behalf of the consortium.
Construction Timeline
The construction phase for these projects is set to commence in the upcoming year, with completion anticipated in 2024 and 2025.
Government Contracts
Out of the 16 projects, 14 have secured contracts under the Irish Government’s second Renewable Electricity Support Scheme (RESS 2). The remaining two projects are contracted to supply energy to the national grid through the recently launched RESS 3.
CEO’s Perspective
Expressing satisfaction with the achievement, Ronan Kilduff, CEO of Elgin Energy, remarked, “What we meticulously planned and worked towards over the past three years is now being realized through this project with Allianz Capital Partners.”
Future Collaboration
Kilduff also emphasized the anticipation of contributing to Ireland’s renewable energy landscape and collaborating on the project with Allianz Capital Partners for years to come.
Source: irishtimes.com
