Lirion Power has officially launched with the acquisition of a 166MW wind portfolio from Greencoat Renewables and an €80 million senior debt facility package backed by NatWest and DNB.
The new Irish renewables platform has taken on six operational wind farms in the Republic of Ireland, with 116MW of net capacity, including a 50% stake in a flagship 100MW project.
The €80 million financing package will support both operations and growth ambitions, with Mason Hayes & Curran advising on the deal.
“This financing reflects both the quality of our initial asset base and confidence in our long-term strategy,” said Laura Thomas, chief financial officer at Lirion Power.
Lirion Power is backed by HitecVision and Reinova Partners, and aims to enhance mid-life onshore wind assets through co-location, repowering and selective development.
“This launch represents a significant milestone in our strategy of building profitable growth-focused companies in support of the European energy transition,” said Erlend Basmo Ellingsen, CEO and managing partner at HitecVision.
Ralf Rank, co-founder of Reinova Partners, added: “We’re creating Lirion Power with the differentiated operating capabilities required to build out renewables over the next generation.”