Terra Solar II Limited, an Irish solar project developer with a portfolio surpassing 800 MW, plans to bid up to 550 MW into the upcoming Renewable Electricity Support Scheme (RESS) auctions.
More specifically, the firm intends to participate with 150 MW in the RESS-1 auction and then bid a further 300 MW-400 MW into RESS-2.
Terra Solar II was founded in 2016 by David Fewer and Andre Fernon who just recently sold their shares in a 118-MW solar platform, called Terra Solar Limited, to local utility ESB.
“We have full planning permission on almost half of the portfolio (380 MW) with another 220 MW in or going into the planning system,” said Fewer, adding that construction work is most likely going to start next year after the conclusion of the auctions.
The firm has obtained full planning permission to build what would be Ireland’s largest solar site — a 125-MW plant north of Midleton in Cork.
It is understood that EUR 10 million (USD 10.9m) has been raised by Terra Solar II to support its development plans.
(EUR 1.0 = USD 1.085)