Construction on the projects is expected to begin this month. Image: Highfield Solar.

Highfield Solar has successfully secured full financing for two new solar projects in the Republic of Ireland, with a combined 132MWp capacity.

The company—which is a joint venture between renewable energy developers ib vogt, Highfield Energy, and Aura Power, plus Coöperatieve Rabobank U.A.—has secured an undisclosed sum to fund the 70MWp Clonin North solar plant and the 62MWp North Arklow project.

Highfield Solar has previously collaborated with Coöperatieve Rabobank U.A. on solar projects, with the two firms working together to finance a 473MWp portfolio since July 2021, across four projects spread across Ireland.

The Clonin North project is set to be located on a 70 hectare site near Rhode, in y Offaly, while the North Arklow development will be located near the town of Arklow in y Wicklow. Construction works on both the projects are expected to begin in October 2024.

“We are delighted Highfield Solar has reached this significant milestone and we are now looking forward to the continued roll-out of our portfolio. This is the result of years of planning and investment in these projects. As a company founded in Ireland, we are hugely proud of our role in continuing to attract such significant investment into the ry for renewable electricity generation projects,” said Peter Kavanagh, managing director of Highfield Energy.

Both of the projects financed in this latest deal were previously successful in the government of Ireland’s second Renewable Electricity Support Scheme (RESS 2) auction run by the Department of the Environment, Climate and Communications in 2022.

“The Clonin North and North Arklow projects mark an exciting new chapter in our successful joint venture, helping to build some of the largest solar plants in Ireland,” said Anton Milner, CEO of ib vogt, adding: “With the support of the RESS scheme, we are optimistic about the future of solar energy in Ireland and the lasting positive impact it will bring.”

“The Irish solar market is now one of the most exciting in Europe and the scale of these projects is a testament to that. We look forward to seeing these projects reach energisation, along with many more in our development pipeline.” commented Simon Coulson, director at Aura Power.

A success for the RESS

The RESS auctions, which function in a similar manner to the UK’s Contracts for Difference (CfD) Allocation Rounds (AR), aim to facilitate the development of new renewable energy projects in Ireland in order for the Emerald Isle to hit its target of achieving 80% renewable energy by 2030.

The most recent RESS round, September 2024’s RESS 4, was a huge success for Ireland, with 1,334MW of onshore renewable generation capacity winning support through the auction. Of this, 960MW was solar capacity and 374MW was onshore wind, with both being procured at an average auction price of €96.85 (£81.73) per MWh.

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