ILOS Energy secures US$166.7 million finance for Cork solar farm project

Renewable power producer ILOS Energy has secured a €143 million (US$166.7 million) debt finance facility to fund the construction of a 217 MW solar farm in Ballyhea, Co Cork, Ireland.

The financing deal agreed with Danske Bank will be used to build a 217 MW solar farm in Ballyhea, close to Charleville in County Cork. Work on the project began in April 2025 and is currently moving forward faster than planned. Once finished, the large-scale solar development — carried out in partnership with Soleire Renewables — will span 500 acres and generate sufficient green energy to supply roughly 39,000 homes. 

Work on a separate 217 MW solar farm near Roscrea in County Tipperary is nearing completion after an investment of roughly €130 million. ILOS Energy has already finished construction of its Erkina Solar Farm in Tipperary earlier this year, also supported by around €130 million in funding. Together, the company’s first two Irish solar projects will deliver close to 440 MW of capacity. In addition, ILOS Energy is progressing six other utility-scale solar developments in Ireland through its partnership with Soleire Renewables. The company is based in Karlsruhe, Germany, and is actively developing projects across seven European markets.