Elgin has acquired the 40MWp Kilderry Solar Farm in County Kilkenny, Ireland, from BayWa r.e. as part of its continued growth strategy in the country.
The independent power producer (IPP) said the project is located close to several of its existing development assets, strengthening its growing Irish renewable energy portfolio.
Elgin added that the deal follows its recent acquisition of the approximately 200MW Blackhall Solar Farm in County Meath and reflects its strategy of combining acquisitions with organic development.
The latest transaction supports Elgin’s continued investment in renewable energy projects aimed at accelerating Ireland’s transition to a low-carbon energy system.
Elgin chief executive Dermot Kelleher said: “Kilderry is a strong addition to our Irish portfolio and further demonstrates our commitment to growing our presence in Ireland.
“Alongside Blackhall, this acquisition reflects our strategy of combining selective M&A with our organic development pipeline to create value and accelerate the delivery of renewable energy infrastructure.
“We see opportunities to replicate this approach across our portfolio, identifying strategically located projects that complement our existing assets and enhance overall project economics.”
BayWa r.e. UK managing director Gemma Hamilton said: “Kilderry reflects both the quality of projects we are bringing forward and the strength of our position in the Irish market, where we continue to invest in the growth and delivery of our renewable energy portfolio.
“Given the project’s location and particular strategic fit with Elgin’s existing assets in the area, this transaction creates a unique opportunity to accelerate Kilderry Solar Farm towards delivery under Elgin’s ownership.
“We remain firmly focused on progressing our wider 1 GW solar pipeline and playing a significant role in the continued growth of renewable energy across Ireland.”
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