Irish utility ESB has expanded its solar portfolio by 118 MW through the acquisition of all commercially viable sites within local project developer Terra Solar Ltd.
The move results in the latter’s winding down, to be carried out “in an orderly manner.”
According to a joint statement, ESB will seek to enter the acquired projects, which are fully-developed, in the upcoming Renewable Electricity Support Scheme (RESS) auctions.
ESB has been a minority shareholder in Terra Solar since 2016, when it invested EUR 2.5 million (USD 2.7m) in the firm. That transaction allowed the utility to develop and take ownership of small to medium scale solar opportunities at home, it noted.