RES has sold 240MW of solar projects in Ireland to Power Capital Renewable Energy (PCRE), which is backed by French investor Omnes Capital.
This brings PCRE’s total portfolio of solar farms to over 1.1GW making it the largest solar independent power producer in Ireland.
Construction of these projects is set to begin in 2022.
RES has been developing the portfolio of six solar farms in Ireland over the last number of years and has obtained planning permissions from local councils and grid connections from ESBN and Eirgrid.
The solar farms are in several counties, including Galway, Waterford, Clare, and Kildare.
The multi-million euro deal underlines PCRE’s objective in becoming Ireland’s largest solar power provider.
The company intends to submit some of these assets into the upcoming RESS auction and will also continue to seek corporate off takers.
PCRE plans to invest a further €140m in constructing the projects over the next three years.
Justin Brown, cofounder of PCRE, said: “This is a major statement of our ambitions in Ireland.
“We know RES have a great track record in developing renewable energy projects in Ireland and we hope to do further deals with the RES team in the future.”