Energy business Elgin is to invest €200 million in a solar power project it has bought from the Irish arm of German player, GP Joule.
Elgin said on Monday it had acquired Blackhall Solar Farm in Co Meath, which will be capable of generating up to 200 megawatts (MW) of electricity once it is built.
The company expects to invest €200 million on the construction of Blackhall, which has planning consents and agreements to connect it to the national electricity grid.
Blackhall is one of the biggest solar projects in the Republic at that stage of development, according to Elgin chief executive Dermot Kelleher.
RM Block
The deal adds to the power generation projects that Elgin owns in Ireland, boosting the capacity available to it when it takes part in the next Renewable Electricity Support Scheme auction, which is scheduled to begin at the end of October.
Power companies participating in such auctions offer to supply electricity at fixed prices, with the lower bids winning contracts to sell their energy.
Elgin is close to completing solar power plants that will supply up to 150MW of electricity.
Kelleher said Blackhall was a “significant addition” to Elgin’s Irish projects.
“As we continue to grow our portfolio of owned renewable energy assets, projects like Blackhall will play an important role in supporting Ireland’s decarbonisation ambitions, energy security and long-term economic growth,” he said.
Last month Elgin secured almost €600 million in backing from banks to build solar power plants and battery storage in Britain.
GP Joule managing director Ciaran Donnelly said the sale was an important milestone for the company.
The business had taken Blackhall through its early stages to the point at which it was now, he said.
Backed by specialist investor Copenhagen Infrastructure Partners, which bought a majority stake in 2024, Elgin is working on solar and battery developments across Ireland, Britain and Italy.
Those developments will be capable of generating 10,000MW of electricity once completed, the company said.
The firm has been in business since 2009 and employs 130 people in offices in Dublin, London and Rome.
