Newly established Irish renewables firm Lirion Power has launched operations following the acquisition of a 166-megawatt wind portfolio from Greencoat Renewables and the securing of an €80 million senior debt facility backed by NatWest and DNB.
The portfolio includes six operational wind farms in the Republic of Ireland, delivering 116 MW of net capacity. Among the assets is a 50% stake in a 100 MW flagship wind project. The financing package is expected to support ongoing operations and future growth initiatives, the company said.
“This financing reflects both the quality of our initial asset base and confidence in our long-term strategy,” said Laura Thomas, chief financial officer at Lirion Power. Irish law firm Mason Hayes & Curran advised on the transaction.
Lirion Power is backed by private equity firm HitecVision and energy transition investor Reinova Partners. The company said it will focus on enhancing mid-life onshore wind assets through co-location, repowering, and selective new development.
“This launch represents a significant milestone in our strategy of building profitable growth-focused companies in support of the European energy transition,” said Erlend Basmo Ellingsen, CEO and managing partner at HitecVision.
Reinova Partners co-founder Ralf Rank added: “We’re creating Lirion Power with the differentiated operating capabilities required to build out renewables over the next generation.”
Lirion Power said it will target operational improvements and strategic investment in Ireland’s evolving renewable energy sector, positioning itself to support long-term decarbonisation goals.
