Neon and BNRG fully fund solar power plants in Ireland

Neon and BNRG fully fund solar power plants in Ireland


Photo Credit © Reuters

(Boursier.com) – Neon BNRG, its Irish partner, a Dublin-based developer and operator of solar power plants, has funded the Hilltown, Hortland and Millwall solar power plants in the counties of Meath, Kildare and Wicklow. With a storage capacity of 58 MW, these future solar power plants, jointly owned by Neon and BNRG, will be the first of their kind in the Republic of Ireland to receive funding. These projects won the first RESS 1 government tender of 2020. Electricity from parks will be marketed through PPAs (power purchase agreements), and from 2037 through the CFD (Contract for Difference) supported by the Irish Government.

Funding is provided through equity contributions from Neon and BNRG and a senior loan granted by Society Gonarel. The total investment in these solar power plants is 39 39 million excluding financial costs.

Omexom has also been awarded the Engineering, Equipment Supply and Construction (EPC) Operation and Maintenance (O&M) contracts, and construction has already begun. Goat rearing activities will ensure the plant protection of these solar parks. The plants are expected to be commissioned in the first half of 2022. Their power generation is equivalent to 12,700 Irish households.

Contributions to community projects will finance local initiatives up to approximately 100 kE per year for the duration of RESS support.


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