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Statkraft acquires 320-MW Irish solar development pipeline

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Statkraft acquires 320-MW Irish solar development pipeline

Statkraft AS has acquired 320-MW solar portfolio in Ireland, made up of projects in an advanced stage of development, from JBM Solar Ltd.

The acquisition adds to the Norwegian power producer's existing wind portfolio in the country, which currently comprises 1.25 GW onshore and 500 MW offshore, according to an Oct. 25 press release.

Statkraft plans to enter several of the solar parks into Ireland's upcoming Renewable Electricity Support Scheme auctions.

"We believe that Ireland will need contributions from all forms of renewable energy to meet 2030 binding targets of reaching 70% green energy," said Statkraft Ireland Managing Director Kevin O'Donovan. "The acquisition of this 320 MW of solar energy further diversifies our own portfolio and continues our upward growth trajectory."

The company also reiterated its commitment to invest €1.5 billion in the Irish renewable energy generation sector.