It will help cement the group’s presence here after it made a foray into renewables in Ireland in 2021.
That year, it bought 14MW of solar energy projects from Elgin Energy through its renewables and storage development division. The projects would generate enough electricity to power the equivalent of up to 4,000 homes.
In 2022, Mytilineos secured a contract in conjunction with GE with the ESB to provide 200MW of emergency power capacity through a new gas-fired plant in Dublin’s North Wall.
The financing just secured from the European Investment Bank (EIB) will help the Greek company to advance a total of almost one gigawatt of solar projects in Greece, Italy, Poland, Romania, Spain, Ireland and Bulgaria.
It will also be used to develop 265 megawatt hours of battery storage facilities in Greece and Italy.
“Most of the solar PV projects under the present operation are expected to be small/medium size projects,” said the EIB.
“The projects in the pipeline of the promoter in Bulgaria, Romania, Poland, Spain and Ireland are expected to represent a small share of the present operation and concern projects below 50MW with the majority below 25MW.”
Mytilineos has renewable energy assets across the world.
A subsidiary recently acquired a large solar energy farm in Alberta, Canada, while it has just officially opened a new solar farm in Chile. It also has solar energy plants in Australia.
Greece’s Mytilineos secures €400m EIB funding for solar projects in countries including Ireland
The European Investment Bank said most of the solar PV projects are expected to be small/medium size ones. Photo: Getty
John Mulligan
Today at 10:30
A unit of Greek conglomerate Mytilineos has secured €400m in funding from the European Investment Bank to develop €1bn worth of solar energy farms in European countries including Ireland.
It will help cement the group’s presence here after it made a foray into renewables in Ireland in 2021.
That year, it bought 14MW of solar energy projects from Elgin Energy through its renewables and storage development division. The projects would generate enough electricity to power the equivalent of up to 4,000 homes.
In 2022, Mytilineos secured a contract in conjunction with GE with the ESB to provide 200MW of emergency power capacity through a new gas-fired plant in Dublin’s North Wall.
The financing just secured from the European Investment Bank (EIB) will help the Greek company to advance a total of almost one gigawatt of solar projects in Greece, Italy, Poland, Romania, Spain, Ireland and Bulgaria.
It will also be used to develop 265 megawatt hours of battery storage facilities in Greece and Italy.
“Most of the solar PV projects under the present operation are expected to be small/medium size projects,” said the EIB.
“The projects in the pipeline of the promoter in Bulgaria, Romania, Poland, Spain and Ireland are expected to represent a small share of the present operation and concern projects below 50MW with the majority below 25MW.”
Mytilineos has renewable energy assets across the world.
A subsidiary recently acquired a large solar energy farm in Alberta, Canada, while it has just officially opened a new solar farm in Chile. It also has solar energy plants in Australia.
This week, the Irish Independent reported that an Irish subsidiary of German firm GP Joule aims to build a 190MW solar energy farm in Co Meath.
It will likely cost around €200m to develop and will be one of the largest solar energy farms in the country when completed.
“The project will provide a renewable electricity source for approximately 30,000 average Irish homes and will displace approximately 80,000 tonnes of harmful CO2 emissions per annum,” according to planning documents lodged by GP Joule with the local council.
“The proposed development will be a reliable, benign, sustainable source of electricity generation energy, which is not dependent on the use of fossil fuels and will contribute to both local and national renewable energy targets.”
Renewable energy operators are building more large-scale solar farms in Ireland amid a push for more electricity from renewables.
In 2021, Norway’s Statkraft began construction of the 200MW Ballmacarney solar farm, also in Co Meath. That project was set for completion last year.
This week, the Irish Independent reported that an Irish subsidiary of German firm GP Joule aims to build a 190MW solar energy farm in Co Meath.
Greece’s Mytilineos secures €400m EIB funding for solar projects in countries including Ireland
The European Investment Bank said most of the solar PV projects are expected to be small/medium size ones. Photo: Getty
John Mulligan
Today at 10:30
A unit of Greek conglomerate Mytilineos has secured €400m in funding from the European Investment Bank to develop €1bn worth of solar energy farms in European countries including Ireland.
It will help cement the group’s presence here after it made a foray into renewables in Ireland in 2021.
That year, it bought 14MW of solar energy projects from Elgin Energy through its renewables and storage development division. The projects would generate enough electricity to power the equivalent of up to 4,000 homes.
In 2022, Mytilineos secured a contract in conjunction with GE with the ESB to provide 200MW of emergency power capacity through a new gas-fired plant in Dublin’s North Wall.
The financing just secured from the European Investment Bank (EIB) will help the Greek company to advance a total of almost one gigawatt of solar projects in Greece, Italy, Poland, Romania, Spain, Ireland and Bulgaria.
It will also be used to develop 265 megawatt hours of battery storage facilities in Greece and Italy.
“Most of the solar PV projects under the present operation are expected to be small/medium size projects,” said the EIB.
“The projects in the pipeline of the promoter in Bulgaria, Romania, Poland, Spain and Ireland are expected to represent a small share of the present operation and concern projects below 50MW with the majority below 25MW.”
Mytilineos has renewable energy assets across the world.
A subsidiary recently acquired a large solar energy farm in Alberta, Canada, while it has just officially opened a new solar farm in Chile. It also has solar energy plants in Australia.
This week, the Irish Independent reported that an Irish subsidiary of German firm GP Joule aims to build a 190MW solar energy farm in Co Meath.
It will likely cost around €200m to develop and will be one of the largest solar energy farms in the country when completed.
“The project will provide a renewable electricity source for approximately 30,000 average Irish homes and will displace approximately 80,000 tonnes of harmful CO2 emissions per annum,” according to planning documents lodged by GP Joule with the local council.
“The proposed development will be a reliable, benign, sustainable source of electricity generation energy, which is not dependent on the use of fossil fuels and will contribute to both local and national renewable energy targets.”
Renewable energy operators are building more large-scale solar farms in Ireland amid a push for more electricity from renewables.
In 2021, Norway’s Statkraft began construction of the 200MW Ballmacarney solar farm, also in Co Meath. That project was set for completion last year.
Statkraft Ireland is also working on a number of other solar and wind farm projects in Ireland.
The country has a target of generating 80pc of its electricity from renewables by 2030.
In the recent onshore Renewables Electricity Support Scheme (RESS) auction, 20 solar farm projects totalling 497MW were awarded support. More onshore RESS auctions will be held this year.
