Investor and asset manager NTR has acquired a 54MW portfolio of co-located solar and storage projects in Co. Wexford, Ireland from RES.
It is made up of two battery storage projects with a combined capacity of 25MW along with 29MW of solar PV. The solar projects were awarded 16-year Contracts for Difference (CfD) tariffs within Ireland’s first Renewable Electricity Support Scheme (RESS) auction in August 2020.
The battery storage projects will apply to provide grid services, according to NTR, through the DS3 grid services scheme. The storage sector in Ireland is experiencing a strong growth period, with a 2.5GW pipeline of projects continuing the expansion beyond the initial push given by the DS3.
Co-located solar and battery storage projects can bring some “much-needed diversity of renewables technology onto the Irish grid,” said Manus O‘Donnell, chief investment officer at NTR, adding that combining the technology was particularly effective given the ability to share a grid connection and economies of scale.
“In the future, they should be able to take further advantage of storing excess power produced on site and we expect to see more co-location of solar and battery storage throughout Europe.”
Renewables developer RES will build the projects, which are expected to enter operations in 2022. It will then provide asset management and O&M services.
Lucy Whitford, managing director at RES, welcomed the continuation of the company's relationship with NTR, as it helped “support the delivery of some of the first co-located solar and storage projects in Ireland".
“Further deployment of renewable energy in addition to flexible energy storage is critical to deliver the Climate Action Plan and will create a firm foundation on which to build a zero-carbon Irish energy system. We look forward to starting construction and supporting NTR in the management of the battery storage projects once they become operational.”