Solar farm. Image: Power Capital Renewable Energy
A total investment of €260m will boost clean electricity generation, reduce reliance on imported energy and support the delivery of 2030 climate targets, said the Government.
The European Investment Bank (EIB) will support the construction and operation of four new utility-scale solar photovoltaic projects across Ireland via a €100m project finance loan to Dolmen Solar Ltd, a holding company of Power Capital Renewable Energy.
The overall investment – which, in total, will be worth €260m – will see four new solar power operations developed in Clare, Wicklow, Wexford and Tipperary, generating around 367GWh of clean electricity per annum, which is equivalent to the annual consumption of roughly 79,900 households. The funding and development is also expected to create new jobs in construction, civil works, grid connections and maintenance services.
The scheme is among the largest single solar investments financed in Ireland to date and could contribute significantly to Ireland’s target of 80pc renewable electricity by 2030, as well as see out the national ambition for roughly 8GW of installed solar capacity under the Renewable Electricity Support Scheme.
