A 115MW planned solar farm in Offaly has been been bought by the L&G NTR Clean Power Fund from the UK based renewables giant RES.

The Ballyteige Solar Farm project received planning permission in early 2022, and approval for a grid connection in August of that same year. 

Located near Tullamore, Co. Offaly, the solar farm is expected to begin construction in 2027.

Anthony Doherty, Chief Investment Officer of NTR, commented, “We are pleased to announce this acquisition in the Irish market, which will contribute to Ireland’s ambitious carbon reduction targets.”

“We are known for our experience in acquiring, building and optimising projects, all of which will be brought to making this project, in our home market, deliver for the Fund’s investors.”

When built the Ballyteige Solar Farm will cover approximately 60 hectares in the townlands of Little, Ballyteige Big and Colehill to the west of Tullamore.

Lucy Whitford, Managing Director for UK & Ireland at RES, added, “RES has been developing, constructing, and operating renewable energy projects across the island of Ireland since the early 1990s and we’re committed to playing an active part in the country’s energy future.”

“This successful transaction builds on our longstanding relationship with NTR and ensures our projects contribute to decarbonising the energy system at least cost to the consumer. “

Under the Climate Action Plan Ireland is committed to delivering 8GW of solar capacity by 2030.

RES previously sold approximately 240MW worth of solar projects in development in Ireland back in 2021, and said last year that it was progressing plans for another 500MW worth of solar farms.

This includes the Ballyteige Solar Farm, and multiple other projects at various stages of the development and planning process.

 Bill Hughes, Global Head of Private Markets, Asset Management, L&G, said of the latest purchase, “We’re excited to be able to announce this latest addition to the Fund’s portfolio, reflecting our continued success in strategic capital deployment.”

“This new inclusion provides our clients with a broader exposure to clean power assets, investing in sustainable infrastructure that could help drive Europe’s decarbonisation.”