Octopus Acquires Three 43MW Solar Farms in Ireland

en.Wedoany.com Reported - On September 29, Octopus Energy Generation announced an investment in three operational solar farms in Ireland, two located in County Kildare and one in County Cork, with a total installed capacity of 43MW, expected to meet the annual electricity needs of approximately 10,000 households. The transaction was executed through the Sky fund (ORI SCSp) managed by Octopus Energy Generation, with the specific acquisition amount undisclosed. Following this investment, Octopus's operational and under-construction renewable energy projects in Ireland exceed 300MW, covering a total of 9 projects.

This acquisition corresponds to solar assets that have completed construction and entered operation. One of the Kildare projects was built on the site of a former golf course. Public records show that this project is Dunmurry Solar Farm, developed by Irish developer BNRG, which previously adopted bifacial solar modules and string inverters, and optimized the site layout and DC/AC capacity ratio through more than 80 rounds of design optimization. The project won the "Solar Project of the Year" award at the 2025 Irish Renewable Energy Awards.

These three solar farms were originally co-developed by BNRG and Impax Asset Management. The two parties completed financial close on the projects in April 2024, with a total installed capacity of also 43MW, two located in County Kildare and one in County Cork. The financing structure included equity funding from both parties and non-recourse senior debt provided by Societe Generale. The projects were successful in Ireland's second Renewable Electricity Support Scheme (RESS 2), securing long-term fixed-price support extending through 2040.

BNRG confirmed in July 2026 that it had completed the sale of three Irish solar projects co-developed and constructed with Impax, with a total sold asset scale of 43MWp, while continuing to benefit from the RESS 2 long-term fixed-price arrangement. The installed capacity, number of projects, counties of location, and former golf course project characteristics disclosed in Octopus's announcement are all consistent with this portfolio. Octopus's official announcement did not disclose the counterparty, so the main text should not directly state "BNRG/Impax sale" as an officially confirmed fact of acquisition by Octopus, but may be used as historical project information.

This investment was executed by the Sky fund. The Ireland Strategic Investment Fund (ISIF) has committed £80 million to the Sky fund to support energy transition infrastructure investments in Ireland and other markets. Octopus has previously invested in Circal, Verde Energy Group, and Simply Blue Group in Ireland, involving approximately 1GW of solar project pipeline, more than 50 commercial and industrial solar-plus-storage projects, and fixed-bottom and floating offshore wind development, respectively.

As of this transaction, Octopus's operational and under-construction renewable energy portfolio in Ireland exceeds 300MW, sufficient to cover the annual electricity needs of approximately 82,000 households. The three solar farms acquired by the company have now entered the operational phase, with core milestones shifting to asset operations, generation performance, and execution of RESS 2 long-term power purchase revenue.