Bank backs €180m for Irish solar farm project

Amarenco, the solar energy business led by former Bord Gáis head John Mullins, has found a multi-million euro backer to help it deliver the country’s first solar farms with the inaugural project earmarked for Cork.

One of the world’s largest investment banks with headquarters in Sydney, Macquarie Bank is willing to invest €180m in the solar venture which has plans for more than 30 farms across the south and south-east of the country.

The Australian-listed lender will help finance Amarenco’s plans to deliver the country’s first solar farms, the majority of which have been pencilled in for Cork.