Omnes invests in Power Capital Renewable Energy

Omnes, the Paris-based investor in private equity and infrastructure, has acquired a controlling stake in the Irish solar PV developer Power Capital Renewable Energy (PCRE) via its fourth-generation renewable energy fund, Capenergie 4.

With Omnes’ backing, PCRE will focus on developing and building its 500 MW solar PV portfolio in Ireland. The JV between the companies has already yielded its first success: PCRE was awarded a feed-in tariff for four projects with a total of 27 MW in the first auction under the Renewable Electricity Support Scheme (RESS 1) which took place in August 2020.

PCRE’s Irish project pipeline currently stands at 300 MW. The company intends to grow this pipeline through further development, acquisition of assets, and through co-development and partnership opportunities.