Neoen and its Irish partner BNRG have completed financial close for the Hilltown, Hortland and Millvale solar farms in the counties of Meath, Kildare and Wicklow in the Republic of Ireland. With a combined capacity of 58 MWp, the solar plants, jointly owned by Neoen and BNRG, are among the first to complete financial close in the Republic of Ireland.
The electricity generated by the solar farms will be sold under PPAs (purchase power agreements) supported by the Irish government via a CFD (Contract for Difference) mechanism valid until 2037.
The project will be funded by a combination of equity provided by Neoen and BNRG and a non-recourse senior debt facility provided by Société Générale. Total project costs will be approximately EUR39 million (US$45.9 million), excluding financing costs.
Commissioning is scheduled for the first half of 2022. The solar farms will provide enough electricity to power the equivalent of 12,700 homes.
