€500 million investment for Irish Solar farms

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Europe’s largest Solar photo voltaic (PV) companies is said to make a significant investment into Solar farms across Ireland.

Lightsource will work with farmers and property owners such as retail units, to implement the €500 million investment for a more sustainable electricity generation in Ireland.

This project will see a generation of roughly 1.5 gigawatts of electricity by 2020. Enough to supply 495,000 local households and meeting over 5% of the overall energy supply demand of Ireland.

Under the European Renewable Energy Directive, Ireland will need to produce 27% of its energy through renewable sources by 2030.  Earlier this year the SEAI reported that Ireland harvests 7.8% of its energy demand from renewable sources. This is the half-way point for the 2020 goal of 16%.

This investment will also see the creation of jobs. At the moment, Lightsource have over 350 full-time employees and a growing team in their Dublin office.

Nick Boyle, Lightsource’s CEO and a native of County Antrim, comments:

“We have always been focused on building long-term relationships as we are the lifetime operator of all our projects. With an office in Dublin and locally employed staff, we will provide investment, expertise and support to businesses and local communities looking to reap the rewards of solar power.”

“Any risks associated with the development of these solar projects, including installation costs, will be borne by Lightsource.”

– Nick Boyle

This is an exciting project. The need to shift to renewable energy sources is growing every day. Ireland is a prime location for renewable sources. This has potential to spur an interest into renewables investment for Ireland.

Mr. Boyle added:

“We are excited by the opportunity for solar power in Ireland. Lightsource is committing significant financial investment and resource towards realising this opportunity.”

You can find out all the latest news about Lightsource on their new Irish website – http://www.lightsource-re.ie/

 


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Eoin Hamilton

Business Development Executive



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