Ørsted, a Danish energy giant has partnered with Terra Solar to build a solar portfolio of up to 400 MW in Ireland. After grid route and grid bids are approved, the solar projects should be finished before 2030. Furthermore, they will assist in supplying more than 90,000 houses with clean energy.
Future auctions under the renewable electricity support scheme and corporate power purchase agreements are two potential market entry points for the portfolio. Reportedly, the initiatives support Ireland’s climate action plan’s 8 GW solar energy ambition. In Ireland, Ørsted now manages 378 MW of onshore wind farms that produce enough electricity for over 230,000 homes.
In May 2023, Ørsted, agreed to pay $625 million for Eversource Energy’s 50 per cent ownership in the two companies’ uncontracted federal offshore wind lease joint venture. The agreement also included contracts and partnerships that are critical to operating assets. The deal was expected to close in the third quarter of 2023 after receiving regulatory approval.
