Lightsource Renewable Energy is planning to invest up to €500m in Ireland solar farms.
The actual size of investment will depend on Irish Government’s ongoing consultation process on renewable energy.
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According to Lightsource, solar panels are easy to deploy, are scalable and safe which has made them one of the most popular electricity generator in most parts of the UK.
As per the Irish government target, 27% of Ireland’s energy is expected to be generated from renewable sources by 2030.
The Sustainable Energy Authority of Ireland said that in 2013 renewable energy production helped the country meet 7.8% of the country’s energy demand.
It helped the country achieve half of its 16% target under the European Union’s Renewable Energy Directive by 2020.
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By GlobalDataLightsource CEO Nick Boyle said: “Lightsource is committing significant financial investment and resource towards realising this opportunity. Any risks associated with the development of these solar projects, including installation costs, will be borne by Lightsource.
“This commitment will not only add to sustainable electricity generation in Ireland, it will also strengthen the local economy and supply chain.”
“Our ground-mounted solar projects will provide much-needed land diversification for farming enterprises, and our rooftop systems will enable schools, businesses and community buildings to reduce overhead costs. It really is a win-win for local communities.
The European Union is expected to introduce new Energy Policy 2015-2030.
