Renewable energy consultancy Natural Power has supported NTR to successfully acquire 326MW of solar and battery energy storage system (BESS) capacity in Ireland.
The L&G NTR Clean Power (Europe) Fund has acquired two separate project portfolios, both located in Ireland, with a combined capacity of 326MW. The larger of the two portfolios is the solar and co-located BESS portfolio known as Project Monvallet, which is located in County Louth.
The project is currently in the pre-construction phase and includes a ready-to-build solar PV power plant and BESS portfolio with a combined 211MW capacity. Construction of the solar PV power plant portion of the project is set to begin later this year, while construction of the BESS asset is expected to commence in 2026.
For this acquisition, Natural Power conducted detailed reviews of the planning and environment conditions, land lease, technology and design, geotechnical conditions, site layout, project schedule and financial models, in order to ensure the acquisition was well suited to L&G NTR.
Meanwhile, the Ballyteige portfolio, located in County Offaly, comprises two solar PV power plants with a combined capacity of 115MWp. This portfolio is also in the pre-construction phase, and the development has already secured grid connection permits, with planning permission being granted in 2022. Construction on the projects in the Ballyteige portfolio is expected to begin in 2027.
Natural Power supported L&G NTR on this acquisition in a similar fashion to the Montvallet Portfolio, while also considering possible consenting and environmental constraints and land lease arrangements.
Republic of Ireland boosts solar ambitions
Dr Joseph Gibbons, advisory lead at Natural Power Ireland, stated: “The Irish renewable energy market remains an attractive area for investment. It is encouraging to start the year with news of these transactions. We are delighted to have been able to support NTR with these acquisitions, enhancing its portfolio with additional sustainable infrastructure and help drive Europe’s decarbonisation efforts.”
He added: “These projects underscore our breadth of experience in supporting some of the largest growth areas in the renewable energy sector, and it’s rewarding to have played a part in these solar and BESS projects coming to fruition.”
According to recent analysis by Solar Media Market Research analyst Josh Cornes, Ireland is on track for its most successful year ever for solar in 2025. A year-on-year (YoY) increase of over 100% for solar capacity is forecasted for 2025, primarily driven by the 800MW of solar capacity currently under construction across Ireland.
