Danish photovoltaic outfit Obton is to invest €300m in the Irish solar industry to develop up to 500MW of new projects.
The company will spend the cash over the next five years alongside local partner Shannon Energy.
Over 1000 jobs will be created during the construction of the projects on some 2000 acres of land.
The strategy cements a 2018 agreement between Obton and Shannon Energy to cooperate in the field.
The partners have also acquired three solar portfolios totalling 150MW that includes projects in Longford, Tipperary, Cork and Galway.
Obton chief executive Anders Marcus (pictured) said: “Obton’s vision to create a sustainable future for the coming generations is of highest priority. Through Shannon Energy and our business partners, we are in a great position to do just that in Ireland.”
Shannon Energy counterpart Noel Shannon added: “Shannon Energy are delighted to have secured the financial strength for constructing Utility Scale solar projects in Ireland, through our partnership with Obton, and we look forward to securing the licences for our planned implementation in the upcoming RESS auctions over the next five years.”