Ireland: The European Investment Bank (EIB) is supporting the development of four large-scale solar projects in Ireland with a $115 M (€100 M) project finance loan to Dolmen Solar Ltd, part of Power Capital Renewable Energy. The wider $300 M (€260 M) investment will deliver a combined capacity of 395 MWp.

The projects will increase renewable electricity generation, strengthen energy security and contribute to Ireland’s and the EU’s 2030 climate targets. They also form part of the EIB’s REPowerEU efforts to speed up the clean energy transition.

Located in Clare, Tipperary, Wicklow and Wexford, the solar farms are expected to produce around 367 GWh of electricity each year – enough to supply nearly 80,000 homes – while cutting approximately 114,000 t of CO₂ emissions annually.

This marks Ireland’s first fully non-recourse solar project financing, combining EIB backing with commercial lending from Danske Bank. The EIB loan represents around 43 % of the project’s senior debt.

Construction is set to begin in the coming months, creating 136 jobs and supporting local contractors. The portfolio includes four ground-mounted solar farms, with completion expected between 2027 and 2028.

The electricity generated will be sold into the wholesale market and supported under Ireland’s Renewable Electricity Support Scheme for over 16 years.

Overall, the initiative represents one of the country’s largest solar investments to date and supports Ireland’s target of achieving 80% renewable electricity by 2030.

Source: EIB Group

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