Highfield Solar, a joint venture between Ib Vogt, Highfield Energy, and Aura Power, has secured project financing to fund the construction and operation of two solar projects with a combined capacity of 132MW. The projects, located in County Offaly and County Wicklow, have reached financial close in collaboration with Cooperatieve Rabobank. These projects, Clonin North (70MW) and North Arklow (62MW), will use high-capacity bifacial modules on fixed-tilt support structures for optimal efficiency.
Construction work, including grid connection infrastructure, is set to begin in October 2024.
Highfield Solar and Cooperatieve Rabobank have a history of successful collaborations, previously financing a portfolio of 473MW across four solar projects in Ireland. Both new projects were successful in Ireland's second competitive Renewable Electricity Support Scheme (RESS 2) auction, part of the government's plan to achieve 80% renewable electricity by 2030.
As part of the RESS scheme, local communities will benefit from approximately €100,000 in annual funding over the next 15 years, contributing to local development and sustainability efforts.
Peter Kavanagh, Managing Director of Highfield Energy, commented, “We are delighted Highfield Solar has reached this significant milestone and we are now looking forward to the continued roll-out of our portfolio. This is the result of years of planning and investment in these projects.” Kavanagh emphasized the importance of the partnership with Ib Vogt and Aura Power, highlighting the role of these solar projects in attracting significant investment to Ireland's renewable energy sector.
