The European Private Equity company Omnes Capital and Parisian Infranity in Infranity in Paris have announced a strategic equity partnership with Independent Power Producer (IPP) Power Capital Renewable Energy.
Power Capital, which has a focus on generating solar energy, has an operational solar port folio of 230 MW, with another 330 MW under construction and a 5GW pipeline of solar and BES projects that are commissioned by 2030. It says it is the largest solar in Ireland.
The collaboration with Omnes and Infranity is intended to speed up the next growth phase of Power Capital, including the newer focus on Battery Energy Storage Systems (Bess).
Jaime Héctor, co-head of the stock strategy of Infranity, said: “We look forward to actively contributing to the continuous growth of power capital, also in Bess, so that a balanced portfolio is built up in technologies.”
Omnes and Infranity will collaborate with the Power Capital management team to support the IPP business plan, with a focus on implementation and improved optionality of the Offtere.
Power Capital works throughout the life cycle of its power plants and has slightly less than 1 GW of ready-made solar PV projects with secure purchase via Power Purchase Agreements (PPAs) and granted subsidies supported by the government: over the third and third and Fourth Tour of Ireland’s Renewable Energy Support Scheme (Ress)The company secured 400 MW.
Solar -PV sites of a total of 150 MW, developed with the help of Financing of the Allied Irish Bank (AIB) and LAN BANGE POSTALE (LBP)have PPAs with technology giant Microsoft, and developed an 85 MW with the same finances in County Wexford has a long -term PPA with an unnamed technology company.
The agreement with Omnes and Infranity is expected to be concluded at the end of September as soon as approvals have been obtained.
Omnes made a strategic investment in Power Capital in 2020, something that the director of the Jean-Baptiste Delattre stock company said that the “Evolution of the company in the leading solar ipp of Ireland” supported.
