The Legal & General (L&G) NTR Clean Power Fund has taken over a 105 MW Zonne -PV factory in Ireland.
The Ballydonagh Solar Project is located in County Galway and has protected the net permits and planning permits and is predicted in 2027 to start construction after further design optimization.
The project has been taken from independent power manufacturer RES and is the second Irish solar factory acquisition between the two companies this year, then The acquisition of an 115 MW Zonne -PV project At the start of the year. Just like the Ballydonagh project, it is expected that construction is expected in 2027.
The acquisition of the 105 MW PV factory brings the Irish portfolio of the fund of the fund to more than 430 MW and marks its tenth acquisition in total, the third this year. Two of the acquisitions are the aforementioned RES, while the third party is a ready-made solar and battery energy storage system (BESS) with a combined capacity of 211 MW. The Monvallet project was taken over from the Irish renewable energy developer Strategic Power Projects Back in February and more recently Secure a financing facility of € 65 million (£ 56.8 million) for the project.
Apart from Ireland, the fund, which is a joint venture between L&G L&G and specialist in renewable energy NTR, in six European countries and has a portfolio of more than 1.1 GW of solar PV, Wind and Bess in Development, Construction and Operation.
Bill Hughes, head of the private markets at L&G, said: “The fund is an important part of our growing platform of the private markets and we continue to strengthen our portfolio through this latest solar acquisition, in accordance with our intended strategy aimed at the largest growth areas in the Sector of the Renewable of the EU.
“Through strategic acquisitions, we want to offer considerable growth opportunities for long -term investors and accelerate the energy transition of Europe.”
In addition, in related Zonnieuws from Ireland this week, the fifth renewable electricity support scheme of the country (Ress 5) Almost awarded 1.08 GW of solar and wind capacitywith the most from Solar PV, at 860.38MW. The auction ended with an average exercise price of € 100.63/MWh for Solar PV, which was slightly lower than the previous auction.
