Ørsted has acquired the 65MW Ballinrea solar PV project in Ireland from renewable energy developer Terra Solar.
The solar project will be located in Cork, Ireland and will generate enough green energy to power up to 16,000 Irish homes.
Kieran White, vice president of Europe onshore at Ørsted, says: “The transaction marks a significant milestone as it’s the first Irish solar project acquisition for the company. This project will make a meaningful contribution to Ireland’s national energy target of 80% renewable electricity by 2030 and to the Irish government’s new 5.5GW solar target.”
With the company’s recent acquisition of Ostwind, Ørsted entered the French and German solar markets. The company is also aiming to develop a portfolio of solar projects in Spain together with four local partners, an initiative announced in June this year.
Ireland is less well known for its solar capacity than for its abundant wind resources. According to the International Energy Agency, in 2018 Ireland had the second highest share of wind in electricity generation, as the country is well positioned geographically for wind power generation.
In 2020, renewable electricity generation rose ~7%, with wind and solar PV technologies together accounting for almost 60% of this increase.