Ballinrea solar PV project has been acquired by Ørsted
Ørsted has completed the acquisition of the Ballinrea solar PV project in Ireland from experienced renewable energy developer Terra Solar. The 65 MW solar project will become Ørsted’s first solar project in Ireland.
Ballinrea is a 65-MW solar project that will be located in Cork, the second-largest city in Ireland. Ballinrea Solar Farm is expected to generate enough green energy to power up to 16,000 Irish homes – equivalent to almost every new home to be built in Cork City between now and 2028.
Ørsted is a Danish multinational power company based in Fredericia, Denmark. It is the largest energy company in Denmark. Ørsted develops, constructs and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted employs 7,292 people and is listed on Nasdaq Copenhagen.
Terra Solar is at the forefront of solar energy development in Ireland, helping the country lead the way in developing renewable energy sources and increasing its energy independence.
Oaklins’ team in Ireland acted as financial advisors to Terra Solar in this transaction.
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