REG-Ørsted A/S Ørsted and Terra Solar team up to develop 400 MW portfolio of solar energy in Ireland

Oersted A/SAnnouncement

18/09/2023 09:15

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   Ørsted A/S (Orsted)
   Ørsted and Terra Solar team up to develop 400 MW portfolio of solar energy
   in Ireland

   18-Sep-2023 / 10:00 CET/CEST

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   18.9.2023 10:00:01 CEST | Ørsted A/S | Investor News

   Today, Ørsted has announced the development of a portfolio of Irish solar
   projects in a partnership with renewable energy developer Terra Solar,
   headquartered at NovaUCD in Dublin. With a capacity of up to 400 MW, the
   projects have the potential to power over 90,000 Irish homes.

   This latest partnership brings further momentum to Ørsted’s solar pipeline
   in Ireland which now totals over 600 MW. Subject to grid route consent and
   a grid offer, the portfolio of projects announced today are targeted for
   completion in advance of 2030, in line with the Irish government’s 8 GW
   Climate Action Plan solar energy target. 

   The renewable electricity produced by the solar farm portfolio has several
   potential routes to market including future RESS auctions and corporate
   power purchase agreements.
    
   The Irish investment follows Ørsted’s entry into the UK solar market
   announced only last week with the development of a proposed 740 MW solar
   farm and associated battery storage in Nottinghamshire. 

   “We are delighted to extend our existing collaboration with Terra Solar on
   the development of these projects which will contribute to Ørsted’s global
   goal of 17.5 GW of onshore renewables by 2030,” said TJ Hunter, Senior
   Director, Development & Operations in UK & Ireland at Ørsted.

   “Solar energy is an essential component for enabling the Irish power
   system to run entirely on green energy. Ireland has seen several amber
   alerts on warm summer days with low wind speeds, the cost of electricity
   is too high due to over-reliance on fossil fuels, and the carbon intensity
   of Ireland’s electricity is among the highest in Europe. To solve these
   issues and reduce our reliance on fossil fuels, we need to grow solar
   energy in parallel with onshore wind, offshore wind, and energy storage,”
   he added. 

   André Fernon, Director at Terra Solar, said: “Terra Solar is delighted to
   be working in partnership with Ørsted on the development of the solar
   projects announced today. With a combined capacity of up to 400 MW, this
   partnership will contribute significantly to Ireland’s low-carbon future,
   strengthen our indigenous energy supply, and ensure competitively priced
   green electricity for Irish consumers.” 

   Ørsted currently operates 378 MW of onshore wind across the island of
   Ireland, producing enough power for over 230,000 homes. Ørsted currently
   has two Irish solar projects in development, and earlier this year, the
   company announced a partnership with ESB to jointly develop an Irish
   offshore wind portfolio. 

   Ranked as one of the world’s most sustainable energy companies, Ørsted has
   over 5.7 GW of onshore renewables in operation, under construction or
   consented across the United States and Europe. Ørsted’s Irish headquarters
   are based in Cork City, where it employs over 100 people.   

   For further information, please contact:

   Media Relations
   Tom Christiansen
   +45 99 55 60 17
    1 cabkj@orsted.com 

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 ir@orsted.com 

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate
   Change A List as a global leader on climate action and was the first
   energy company in the world to have its science-based net-zero emissions
   target validated by the Science Based Targets initiative (SBTi).
   Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted's
   shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's
   revenue was DKK 132.3 billion (EUR 17.8 billion). Visit  3 orsted.com or
   follow us on Facebook, LinkedIn, Instagram, and Twitter.

       Attachments

     •  4 Irish solar projects.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  272140
   EQS News ID:   1728353


    
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References

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