The agreement will allow Pivot to develop around 150 solar projects in 100 communities across 20 states including Colorado, Delaware, Illinois, Maryland, Ohio and Pennsylvania. Credit: Todor Stoyanov/Shutterstock.

Irish renewable investment firm Greencoat Renewables has concluded the acquisition of 50% interest in the South Meath solar farm in County Meath, Ireland.

Financial details of the deal have not been disclosed.

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The project, with a capacity of 80.5 megawatts peak, represents a significant investment in the region’s renewable energy infrastructure.

The acquisition was carried out in partnership with Schroders Greencoat, which secured the remaining 50% stake.

An unnamed leading technology company has committed to a long-term power purchase agreement (PPA) for the entire output of the solar farm.

Schroders Greencoat partner Paul O’Donnell stated: “Having entered into a forward sale agreement in July 2022, we are pleased to further diversify our portfolio through the completion of the acquisition of the South Meath solar farm from Statkraft, a key strategic partner.

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“As the largest operator of wind assets in Ireland, we remain focused on delivering PPAs with large, highly reputable counterparties.

“As such, we are delighted to have signed a long-term agreement with one of the world’s leading technology companies as part of this transaction.”

In January 2024, Greencoat Renewables reached an agreement to acquire a 22.5% share in the Butendiek offshore wind farm in Germany from Marguerite Pantheon.

Situated in Germany’s exclusive North Sea economic zone, the Butendiek offshore wind facility has been operational since 2015 and is equipped with 80 Siemens Gamesa turbines.

The project secured fixed-price feed-in tariffs until the end of 2023 and a protective floor price for the electricity sold until December 2035.