Obton and Shannon Energy intend spending €300 million over three years on building solar farms that will generate up to 500MW of electricity.
Barry O'Halloran, Irish Times, Wednesday 8th Jan 2020
Danish group Obton and Irish company Shannon Energy plan to spend €300 million building plants that will generate electricity from solar power in the Republic.
Obton and Shannon Energy said on Wednesday that they had formed a joint venture to develop solar farms, which use panels of specially manufactured cells to convert the sun’s heat to electricity, in the Republic.
The pair intend spending €300 million over three years on building solar farms that will generate up to 500 megawatts (MW) of electricity, creating about 1,000 jobs in the process.
Obton chief executive Anders Marcus said the Danish company would provide most of the cash, while Shannon Energy would provide local expertise and do much of the work on the ground.
The joint venture has earmarked sites in counties Cork, Galway, Longford, Tipperary and Westmeath where it will instal solar panels capable of producing 150MW of electricity, enough energy to cover the yearly consumption of 25,000 homes.
Mr Marcus said the business was in talks with farmers about acquiring other sites around the Republic where it could instal the remaining 350MW. Overall it will need 2,000 acres for its plan.
Government support
Government promises to launch a new scheme to provide cash support to renewable energy projects, mainly wind and solar power, helped lure Obton to the Republic, according to Mr Marcus.
He pointed out that renewable energy still needed a “bit of back up to make sense investment-wise” so proposals for the scheme were a factor in Obton’s decision to invest here.
“The way it is structured, with an auction system, is the right way to ensure that people do not pay too much for electricity,” Mr Marcus added.
All electricity users, including homes and businesses, will fund the Government’s proposed Renewable Energy Support Scheme through a public service obligation charge on their bills.
Debunking Common Myths About Commercial Solar PV
Unlocking the Power of the Sun: How Solar Panels Work
Transform Your Parking Experience: Why Solar Carports Are a Win-Win Investment
The Growing Challenge of Electricity Prices: Why Businesses Must Act Now
Operation and Maintenance of Solar Panels: A Guide for Commercial Projects in Ireland
Why Solar PV is a Smart Investment for Commercial Real Estate Owners
Why Solar is the Perfect Christmas Present for Your Business
Data Centres in Ireland: Balancing Growth and Grid Sustainability
Learn how an energy audit could generate big savings for your business An energy audit is a systematic process that assesses an organisation's energy use and identifies opportunities to improve energy efficiency, reduce costs, and minimise environmental impact. It provides a detailed analysis of energy consumption across operations, facilities, and equipment, offering actionable recommendations for improvement. An energy audit will generate a full report for your organisation, covering everything from the smaller jobs like installing LED lights across your organisation (if you haven’t already done so!) to the bigger jobs of installing solar panels or improving insulation.
Need Financing for your Solar project? How a Power Purchase Agreement (PPA) could be perfect for your Business!
