The acquisition brings PCRE’s total portfolio to 840MW.
The development of the portfolio will be carried out in close partnership with Terra Solar and local stakeholders.
Construction of the projects, which are mainly in Wexford and Cork, will begin in 2022 with the first plants expected to become operational by the middle of 2023.
David Fewer, co-Founder of Terra Solar, said: These sites represent over four years of intensive local engagement with landowners, communities and planners to ensure that Ireland develops high quality solar farms to help meet its 2030 renewable targets.
“From the outset, our priority has been to ensure that these sites are constructed to the highest standards to benefit all stakeholders and we are delighted to have found such a strong, long-term, owner for these sites in PCRE and their French partners Omnes Capital.
Power Capital takes majority interest in Terra Solar s portfolio siliconrepublic.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from siliconrepublic.com Daily Mail and Mail on Sunday newspapers.
Ray Coyle, the Tayto owner
Power Capital Renewable Energy, the solar energy company being acquired by a French infrastructure fund, has delivered a shining return for Tom Kennedy, the Hostelworld founder and Ray Coyle, the Tayto owner, details of the deal show.
The company is being bought by Paris-based Omnes Capital for an initial consideration of around €15 million plus a potential future earn-out, a source with knowledge of the deal said.
Other beneficiaries include Dalkey financier Barry O’Sullivan, an.
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