Planning Permission Powers 395MW Solar Boost
Struggling with Ireland’s renewable targets? A major planning permission victory unlocks EIB funding for a game-changing 395MW solar farm.
Power Capital Renewable Energy secures a substantial loan from the European Investment Bank (EIB) to develop a 395MWp solar project on Irish soil. This funding supports one of the largest solar initiatives in the country, advancing clean energy goals. The project aligns with national efforts to expand renewable capacity through approved developments.
The initiative marks a key step for Power Capital, known as Ireland’s Power Capital in renewables. Developers obtained necessary planning permission to proceed, enabling construction on domestic land. EIB’s involvement highlights confidence in the project’s viability and its role in reducing carbon emissions. Officials emphasize its contribution to Ireland’s 80% renewable energy target by 2030.
Complementing recent financings, this EIB loan builds on Power Capital’s portfolio. Earlier, the firm closed a EUR215 million deal with AIB, Bank of Ireland, and Société Générale for seven solar farms totaling around 300MW. Those projects, supported under RESS 2 tariffs from 2022, power over 70,000 homes annually and enter operation in 2026. Construction has begun, with legal advice from DLA Piper ensuring smooth progress.
Additional funding rounds strengthen Power Capital’s position. An EUR240 million facility from Eiffel Investment Group backs over 1.2GW of solar assets. Another EUR323 million raise targets solar photovoltaic and battery storage expansion. These deals position the developer as a leader in Ireland’s solar boom, addressing grid demands and energy security.
Environmental considerations shape these projects. Developers navigate An Bord Pleanála decision processes and assess flood-risk development factors to secure approvals. The 395MWp solar farm incorporates modern designs, potentially including battery integration for stability. Such schemes support housing-adjacent renewables without material contravention issues, balancing growth with sustainability.
Industry experts praise the momentum. AIB’s Jim Arigho notes solar’s vital role alongside wind for climate targets. Bank of Ireland’s Michael Lauhoff highlights decarbonization benefits. DLA Piper’s Seán McGrenaghan celebrates the scale of Irish solar financings. EIB partnerships, like those with Solas Capital for efficiency projects, underscore broader EU support.
- 395MWp capacity powers thousands of Irish homes yearly.
- EIB loan accelerates domestic solar leadership.
- Builds on 300MW portfolio financed by major banks.
- Targets 2030 renewable goals amid rising demand.
- Emphasizes planning-compliant, low-impact development.
Power Capital’s projects demonstrate how environmental impact assessments pave the way for renewable approvals. Stakeholders anticipate more large-scale solar in 2026, driven by supportive policies and investor commitment. This EIB-backed venture exemplifies strategic planning permission use to fuel Ireland’s green transition.
Originally reported in Renewables Now on Wed, 18 Mar 2026 09:09:28 +0000. [Full story]
