New joint venture to develop 500MW of solar in Ireland

first_imgNew joint venture to develop 500MW of solar in Ireland FacebookTwitterLinkedInEmailPrint分享Solar Power Portal:Irish solar developer Shannon Energy is to develop 500MW of solar in Ireland over five years in a joint venture with Danish renewables investor and developer Obton Energy.In interviews on Wednesday morning with sister site PV Tech, both companies confirmed that Ireland’s forthcoming inaugural renewable energy auction scheme spurred the €300 million (£256 million) plan.Gerry Shannon, who runs the Dublin-based company with his brother, explained, “Ireland is fertile ground thanks to the government’s new auction process”. Ready-to-build projects totaling 150MW have already been secured and developed, he said, and the partners intend “to reach further back into the development process and look to secure greenfield sites” over the next five years, too.Details of Ireland’s long-awaited Renewable Electricity Support Scheme (RESS) were unveiled in December. The first, 300GWh, auction is scheduled for the summer. The government has devised the scheme, which will be administered by Ireland’s transmission system operator EirGrid, in order to increase renewables’ share of Ireland’s electricity to 70% by 2030 from about 40% today.Both Shannon and [Anders Marcus, chief executive officer of Obton] confirmed that while energy storage was not included in short-term plans, it is likely to be included in the long-term.Corporate offtakers will also be considered in due course. “Corporate PPAs tend to be shorter term, five or seven years, and we’re going to hold these projects for 30 years, meaning we would prefer to have a longer-agreement,” said Shannon. “In the future, if we can find a corporate PPA or a private PPA that would be suitable for us, then of course we will go ahead and construct, provided that the bank regards to paperwork of such a PPA to be a viable risk.”[Cecilia Keating]More: JV between New Obton and Shannon Energy to spend £256m on 500MW of Irish solarlast_img read more

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