Temporis Investment Management Ltd. launched a €150 million equity fund that will support the development of pre-construction renewable projects in Ireland.
The Temporis Aurora LP will develop over 1,000 MW of pre-construction renewable projects and energy storage infrastructure in the country over 12 years. The fund has a target commitment size of €100 million and a maximum commitment size of €150 million, according to a news release.
The first close of the fund was backed by the Ireland Strategic Investment Fund, Allied Irish Banks PLC and Encavis AG. ISIF also conditionally committed to raise its investment in the fund in the next closings.
The fund will "see an almost 30% increase in Ireland's current capacity to generate renewable energy over its lifetime, making a real contribution to our overall goals in this area," said Richard Bruton TD, minister for communications, climate action and environment.
