MHC Advises Statkraft on the Forward Sale of a Portfolio of Solar Projects with a Combined Capacity of up to 250MWp to Octopus
14 September 2021 | 1 min ⧖
MHC recently acted for Statkraft on the forward sale of Ballymacarney and Harlockstown solar parks to Octopus Renewables. The projects have a combined installed capacity of up to 250MWp with a combined consideration value of at least €140m.
We advised Statkraft on all aspects of the transaction, including the sale documents and the construction contracts. Once completed, the construction of Ballymacarney (approximately 200MWp) will represent a landmark moment for the renewables sector as it will be the largest solar park in Ireland, will be one of the largest renewable energy projects in Ireland. Within the electricity industry, there is a real concern of a lack of supply of electricity to the Dublin region in the years to come, with ESB and EirGrid exploring a number of options to mitigate this risk and maintain system security. So Ballymacarney will contribute to addressing this concern due to its location.
We are also continuing to advise Statkraft on construction related aspects of the build-out of Ballymacarney.