Highfield Solar secures financing for 93 MW of solar in Ireland

Highfield Solar has achieved financial close for a 93 MWp solar plant in Ireland, securing €65 million ($70.6 million) of debt financing. Installation of the project’s grid-connection infrastructure has already begun, with construction of the actual solar array to be finished by September 2024.

Ireland’s Highfield Solar has reached financial close on €65 million of debt financing for a 93 MWp solar plant.

The Gaskinstown solar PV plant, which will feature bifacial modules on fixed-tilt support structures, will be located on a site near the village of Duleek, County Meath, Ireland.

Work on the grid-connection infrastructure has already commenced and the PV project itself is expected to be completed in September.

In December, the Rabobank, the project’s lender, financed the 106 MWp Rathnaskilloge project, which is also being developed by Highfield Solar.

The Gaskinstown project has the support of the government of Ireland’s second Renewable Electricity Support Scheme (RESS 2) auction. Participation in the scheme guarantees communities, clubs and societies near the project will benefit from around €150,000 of annual funding for 15 years.

Germany’s ib vogt, alongside Ireland’s Highfield Energy and Aura Power, established Highfield Solar as a joint venture in 2014.

“Through the ecological and economic benefits as well as the benefits through the RESS scheme, these projects will make a long-lasting positive impact for the communities and people in the region,” said Anton Milner, the CEO of ib vogt. “This Gaskinstown project as well as the recently closed Rathnaskilloge project are the continuation of a tremendously successful joint venture, building some of the largest solar plants in Ireland.”

The Irish government aims to deploy 8 GW of solar by 2030, with 80% of its energy mix to come from renewables by the same year. A June 2023 report from the Irish Solar Energy Association said that Ireland had installed around 680 MW of solar power.

This post appeared first on PV Magazine.

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