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News Energy

Advised Danske Bank and EIB on €260 million solar portfolio financing

Mar 19, 2026

We advised the lender syndicate of Danske Bank and European Investment Bank on the financing of a €260 million portfolio of utility-scale solar projects developed by Power Capital Renewable Energy.

The portfolio comprises four solar photovoltaic projects with a combined capacity of approximately 395 MWp, located across counties Clare, Tipperary, Wicklow and Wexford. All four projects successfully achieved Renewable Electricity Support Scheme (RESS) offers, and benefit from long-term contracts for difference. This is an example of how well structured State-supported contracts will attract international investment capital and help accelerate Ireland’s energy transition. Construction of the projects is expected to commence in 2026, with phased delivery through to 2028.

Once operational, the projects are expected to generate sufficient clean electricity to power nearly 80,000 homes annually and will contribute meaningfully to Ireland’s 2030 renewable energy targets.

The European Investment Bank supported the financing with a €100 million project finance facility. A separate MHC team led by Daragh O’Shea, Partner and Head of Structured Finance, acted as Special Counsel to EIB, with support from Eoin Traynor, Daanyal Bhana and Andrew Gill.

Commenting on the transaction, Conor Lynch, Partner, Financial Services, said:

“This financing represents a significant development in the Irish project finance market, demonstrating the continued evolution of portfolio structures for large-scale renewable infrastructure. The collaboration between institutional and commercial lenders reflects a strong and growing appetite for well-structured energy assets.”

Keith Newman, Partner, Energy, added:

“The portfolio highlights the scale and pace at which solar is now being deployed across Ireland. Projects of this nature are central to delivering on Ireland’s national renewable targets and underscore the importance of a stable regulatory framework in supporting long-term investment in the sector. We are delighted to have helped Danske Bank, EIB and Power Capital to finalise the financing arrangements for this important portfolio of solar assets.”

In announcing the investment, Minister for Climate, Energy and the Environment Darragh O’Brien noted the strength of investor appetite for Irish renewables and the importance of projects of this nature in scaling clean electricity generation and reducing reliance on imported energy.

Commenting on the transaction, Energy Sector Lead Partner Eoin Cassidy, said:

“A transaction of this scale reflects the continued maturation of Ireland’s solar market and the increasing ability of well-structured projects to attract investment. This market-leading transaction is another example of the type of work our market leading energy practice continually advises on. We are delighted to have delivered a successful outcome for Danske Bank and EIB, and to have worked with the Power Capital team to realise the construction of these projects.”

Transaction team

Our transaction team was led by Conor Lynch and Keith Newman. They were supported by:

Financial Services

Energy

  • Eoin Cassidy, Partner
  • Alice Normoyle, Associate
  • Kayleigh O'Donnell, Associate
  • Henry Morley-Hall, Associate
  • Paula Sales, Associate

Planning

Real Estate

  • Stephen Cowhey, Partner
  • Jane Lynch, Senior Associate
  • Nicola McKane, Senior Associate
  • Rachel Carey, Associate
  • Fintan Walsh, Associate

For more information and expert advice regarding similar contemplated projects, contact a member of our Energy team.



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