Omnes Capital and Infranity have entered into a strategic equity partnership with Irish solar and battery storage developer Power Capital Renewable Energy.
The partnership is designed to accelerate Power Capital’s next phase of growth while advancing Ireland’s energy transition.
With a 230MW operational fleet of solar PV, 330MW under construction and an over 5GW pipeline of solar PV and battery energy storage systems (BESS), Power Capital is the largest solar IPP in Ireland.
The company operates across the entire life cycle of its renewable energy plants, developing, constructing and operating the assets.
It has delivered close to 1GW of ready-to-build solar PV projects with secured offtake through power purchase agreements and government-backed subsidies.
Omnes, Infranity and Power Capital’s management team will support the execution of the company’s business plan.
Closing of the transaction is expected by the end of September 2025 once the required approvals, including regulatory ones, are obtained.
Director at Omnes Jean-Baptiste Delattre said: “Over the past four years, we have worked closely with the Power Capital management team to support the company’s evolution into Ireland’s leading solar IPP.
“Their execution, vision, and commitment to operational excellence have been instrumental in reaching this milestone.
“We’re delighted to welcome Infranity as a strategic partner in the next phase of growth. The investment will further strengthen the company’s leadership position and enhance the company’s ability to deliver on its ambitious pipeline.”
Co-head of Infranity’s equity strategy Jaime Héctor said: “We are pleased to partner with Omnes as a key shareholder of Power Capital.
“We have been impressed by what the management team, supported by Omnes, has achieved and by their plans to address the country’s energy transition.
“We look forward to contributing actively to the continued growth of Power Capital, including into BESS, helping to build a balanced portfolio across technologies.”
Chief executive of Power Capital Justin Brown said: “This landmark capital raise marks a pivotal moment for Power Capital as we accelerate the delivery of over 5GW of solar PV and BESS projects across Ireland.
“The backing from new shareholder Infranity alongside the continued support of Omnes, reflects strong confidence in our vertically integrated model and our mission to lead Ireland’s energy transition.
“With this funding, we are well-positioned to scale our operations, create long-term value, and contribute meaningfully to a more sustainable energy future.”