Obton to invest €300m in the Irish solar energy sector

Obton to invest €300m in the Irish solar energy sector

Obton has today announced details of its €300m investment in the Irish solar energy sector. Obton, a Danish solar photovoltaic (PV) business, and its Irish partner Shannon Energy, will develop up to 500 MW of solar PV projects in Ireland over the next five years. 

This represents an investment in the Irish economy of over €300m at today’s energy prices and will create over 1,000 jobs particularly during its construction phase. This investment will see around 2,000 acres of farmland converted to the production of renewable energy, helping to deliver the Government’s strategic goal of zero carbon emissions by 2050.

Obton’s significant investment in the Irish solar energy sector was launched today by Anders Marcus, Obton CEO, Mark Foley, Eirgrid CEO, and H.E. Uffe Balslev, Ambassador of Denmark, at an event in University College Dublin. 

In conjunction with the investment announcement, Obton and Shannon Energy have also announced details of their first three strategic project acquisitions:

The Grian portfolio of solar projects in Westmeath, Longford and Tipperary 
The IGP portfolio of projects in Tipperary and Cork 
Wind Energy Direct solar project in Galway 

These three projects will deliver approximately 150 MW of solar power, which would be enough energy to cover the yearly energy consumption of 25,000 homes.

Speaking at the launch event, Obton CEO, Anders Marcus said, "Obton’s vision to create a sustainable future for the coming generations is of highest priority. Through Shannon Energy and our business partners, we are in a great position to do just that in Ireland."

Ambassador of Denmark, H.E. Uffe Balslev added, "Obton is an ambitious Danish company with long experience within solar power investment in many countries. I am proud to support their entry into the Irish market and excited about their expected substantial contribution to making Ireland meet the 2030 renewable energy targets of the Government’s Climate Action Plan."

Source: www.businessworld.ie