Wednesday April 8, 2020

Phelan firm bids for massive solar deal in Saudi Arabia

Irish renewable energy company Solar Capital, owned by former beef baron Paschal Phelan, is to bid for a massive solar power contract in Saudi Arabia.

20th April, 2013
Paschal Phelan: 'Banks clamour to be involved in these projects'.

Irish renewable energy company Solar Capital, owned by former beef baron Paschal Phelan, is to bid for a massive solar power contract in Saudi Arabia.

If successful, the initial investment by the company would be $900 million in return for a 20-year government contract to supply 300MW of power. It would result in a return on investment of 20 per cent, Phelan told *The Sunday Business Post*.

That is similar to a €1.2 billion contract that Phelan's...

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