Highfield Solar has reached financial close on a EUR 65 million (US$ 70 million) project financing debt facility for the 93 MWp Gaskinstown PV plant located on an around 81-hectare site near the village of Duleek, County Meath in Ireland.
The Gaskinstown initiative achieved success in the second competitive auction of Ireland's Renewable Electricity Support Scheme (RESS 2) in 2022. Participation in the RESS scheme ensures annual funding of approximately EUR 150,000 (US$ 162,578) for local communities, clubs, and societies throughout the 15-year term of RESS support. Coöperatieve Rabobank UA continues to be the financing institution, with legal support from Matheson LLP and technical guidance from Krug & Schram. Highfield, a collaborative venture involving Ib Vogt, Highfield Energy, and Aura Power and supported by Mason Hayes and Curran LLP and Augustus Cullen Law, oversees the project. Ib vogt has provided development funding and technical engineering support to Highfield Solar and will offer EPC (Engineering, Procurement, and Construction) and initial O&M (Operations and Maintenance) services for the PV projects. The project employs high-capacity bifacial modules on fixed-tilt support structures to optimize land use and efficiency.
Grid connection infrastructure work is underway, with completion of Solar PV construction anticipated in September 2024.
