Highfield Solar has reached financial close on a €65 million (£56 million) project financing debt facility for a 93MWp solar plant in Ireland.
The joint venture – established in 2014 between renewable energy developers ib vogt, Highfield Energy and Aura Power – received funding for the Gaskinstown solar photovoltaic (PV) plant from Coöperatieve Rabobank U.A.
This marks the second partnership between the bank and the joint venture, following the financing of the 106MWp Rathnaskilloge project – located in Waterford, Ireland – in December 2023.
The Gaskinstown project successfully bid in Ireland’s second Renewable Energy Support Scheme auction (RESS-2) in 2012 and has committed to providing an annual community fund of approximately €150,000 (£128,000) for the duration of the RESS support (15 years).
Located on roughly 81 hectares of land near the village of Duleek, County Meath, the project will use bifacial modules on fixed-tilt support structures, which, according to the developer, will optimise land use and efficiency.
With work on grid connection infrastructure underway, the project is expected to be completed in September 2024.
“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,” said Anton Milner, CEO of ib vogt.
Once completed, the project will add to the joint venture’s 282MWp operational solar portfolio in Ireland.