Greencoat Renewables is to acquire the over 80MW South Meath solar farm from Statkraft for an undisclosed price.
Greencoat said it will acquire a 50% stake in the asset with the remaining 50% being acquired in partnership with a pension fund, investing through a fund also managed by Greencoat Capital.
The 80.5MW project is currently under construction in County Meath.
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Commercial operations are expected in the fourth quarter of 2023.
The transaction is structured under a forward sale model and will only complete once the solar farm is fully operational.
Statkraft will finance and manage the construction of the solar farm and will continue to provide management services once operational.