Amarenco Solar ready to invest over €50m in Munster solar plants

Amarenco Solar ready to invest over €50m in Munster solar plants

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  • 22nd March 2017
  • Latest planning permission granted in North Cork

 Cork, 22nd March 2017:  Following a sequence of successful planning applications in Cork and Waterford, Amarenco Solar is ready to invest €56 million in the construction and operation of solar farms in the Southern Ireland.  The most recent permission was granted last week by Cork County Council in Castlelyons in North Cork, for a new 5MW solar farm. The solar farm will comprise approximately 22,200 photovoltaic panels on ground-mounted frames, within a site area of 8.7 hectares. The project will employ 40 during the construction phase.

Following the granting of permission for the new facility, Amarenco Solar now has 40MW with full planning approval in Munster. The investment in each of eight solar facilities for which Amarenco has been granted planning permission, will be in the order of €7 million. This equates to a total investment of €56 million. Once up and running, these solar plants combined would provide the equivalent of 9,000 three-bedroom homes with clean renewable solar energy.

With each solar facility creating forty jobs during construction, the total number of construction jobs, based on successful planning applications to this point, will be in excess of 300. Furthermore, there will be full time operations jobs created for each of the solar facilities, once up and running.

The solar plants will be on farming lands. They will help farmers increase and diversify income by providing a stable source of revenue and ensuring the viability of agriculture for decades to come and encouraging the next generation to keep farming the land. Sheep will be farmed on the all solar farm lands.

“This latest application approval by Cork County Council is again very welcome news and as previously stated is part of a significant number of applications being prepared by Amarenco Solar for Ireland,” said John Mullins, CEO, Amarenco Solar. “Cork County Council clearly sees the  benefits of solar energy as a source of clean energy free from emissions and should be acknowledged for their vision. The government should now follow the lead being set by Cork County Council.”

“We are ready to proceed to invest in these facilities.  The Government must realise what we are proposing is not only positive for local communities, but also for Ireland, as it looks to meet its binding renewable targets for the EU. It is too late to bridge that gap in meeting these targets, but expeditious policy setting would allow these plants to be built and new jobs to be created. Unfortunately, while we have the funds and are ready to invest, our plans are on hold until the Government commences to take solar PV seriously.”

Amarenco Solar is a renewable company headquartered in Cork. The company’s largest operations are in France, where the company is actively managing assets of the value of €230 million across 17 sites.  Amarenco Solar now has offices in Cork, Dublin, London, Nice and Gaillac.

In February 2017, Infracapital and Amarenco,  entered a joint venture agreement to launch a platform established to invest in greenfield renewable energy generation projects and assets across the UK, Ireland and France.

Issued on behalf of Amarenco Solar by Heneghan PR

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