Irish solar firm Power Capital lands €240m funding through European Investment Bank deal

Eamon Ryan, the Minister for the Environment and Climate, said the deal was a “vote of confidence for Irish renewables”

Power Capital Renewable Energy will use the funds to build new solar farms across Ireland. Picture: Getty

Power Capital Renewable Energy, an Irish solar farm developer, has secured up to €240 million in finance, with backers including the European Investment Bank.

The Dublin-based firm announced it has closed a construction equity facility, which will allow it to build solar projects across Ireland and possibly internationally.

The facility has an initial tranche of €100 million. Part of this will be used to build assets benefiting from Power Purchase Agreements (PPAs) with Microsoft and ...