Orsted to build 65 MW solar plant in Ireland; ib vogt achieves financial closure for 135 MW PV in Poland; MET Group acquires 60 MW solar in Poland; Low Carbon raises finance for 1 GW solar in the UK & the Netherlands.
Orsted forays into Irish solar market: Denmark based renewable energy company Orsted has entered the Irish solar market with the acquisition of 65 MW Ballinrea Solar PV Project from Terra Solar. The facility in Cork will contribute to the company’s onshore ambition to grow its global portfolio to a 50:50 mix of wind and solar PV capacity by 2030. Ballinrea Solar Farm is expected to generate enough green energy to power up to 16,000 Irish homes – equivalent to almost every new home to be built in Cork City between now and 2028, shared Orsted, once it is operational in 2025.
Financing for 135 MW solar of ib vogt in Poland: German EPC service provider ib vogt has achieved financial closure for 135 MW solar PV project in Poland under an agreement with BayernLB and Siemens Financial Services through Siemens Bank. Ib vogt says the project marks a significant investment in Poland’s renewable energy sector with a total commitment of $90.4 million. The project is located near the communities of Zamość and Szczebrzeszyn in the Lublin voivodeship in the southeast of Poland on 154-hectare of land. Once online in early 2023, more than 250,000 solar panel deployed will generate 150 GWh clean energy annually. An agreement was signed with Next Kraftwerke for trading photovoltaic electricity at the Polish exchange TGE. For ib vogt, this is its 1st major project in Poland with ‘more to come’.
MET Group expands into Poland: Switzerland based energy company MET Group has expanded its geographical footprint in Europe, to Poland with the acquisition of a greenfield solar plant having 60 MW capacity. Polish renewable project development company TOREN Spółka Akcyjna sold its 100% stake in the Western Poland located facility. It is expected to reach ready-to-build (RTB) status in 2023. Among other European markets, MET is already active in Hungary, Bulgaria, Italy and Spain. It further plans to expand into Romania, Croatia and Germany. “From a business model perspective, our project portfolio is relying on both support mechanisms and market-based revenues (PPAs). Our objective is to acquire ready-to-build assets as well as to develop greenfield and brownfield sites,” said MET Group’s Renewables CEO Christian Hürlimann.
Low Carbon raises finance for 1 GW solar: UK based renewable energy projects company Low Carbon has established a finance facility to support the construction of at least 1 GW large scale solar in the UK and the Netherlands. Senior debt facility from NatWest, Lloyds Bank and AIB will together pool in £230 million into Low Carbon’s portfolio. The company expects to immediately deploy this financing for the construction of 500 MW new solar PV capacity across 17 assets in these countries. It will be able to raise an additional £200 million to add another 500 MW with the accordion feature of the facility. The company has a target to create 20 GW of new renewable capacity by 2030.