Perigus Energy – a new name built on decades of renewable experience
TJ Hunter, managing director, Ireland and the UK, at Perigus Energy, and Kieran White, CEO of Perigus Energy, at Perigus Energy's headquarters in Cork. Perigus Energy already has a strong presence in Ireland through its existing portfolio of 373MW of operational onshore wind farms and 179MW of projects currently under construction across the island of Ireland. Picture: Michael O'Sullivan / OSM PHOTO
Having agreed to sell its European onshore business to Copenhagen Infrastructure Partners for €1.44 billion, the name above the door of Ørsted’s former office in Cork now reads Perigus Energy.
Headquartered in One Albert Quay, Ørsted Onshore Europe has now become a standalone company operating under a new name and brand, with its staff and business in Ireland unaffected by the transaction.
The business, with over 100 Irish staff, builds and operates wind, solar and storage projects across Ireland, the UK, Germany and Spain.
“It is a tremendously exciting time for the company,” said TJ Hunter, managing director, Ireland & UK of Perigus Energy. “It is a journey of continuity for us, and one that began for myself going back twenty years to SWS Energy in West Cork, which continued on through to Bord Gais Energy, and all the way through to where we are now.”
The company operates a 373 megawatt (MW) portfolio of operational onshore wind farms, and has 178 MW active construction projects across the island of Ireland.
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“With the launch of the new name and brand, we have arrived at such an exciting juncture on a growth journey that has been incredible for us, and for me personally. When I first joined the company, it was as a project manager working at a wind project being developed in Tyrone which we still own and operate to this day, and is now so incredible to be the headquarters of a European energy company,” said Mr Hunter.
“Each of the projects we have been involved over my time here has brought additionality to Ireland’s renewable landscape,” he added. “Right now we have three projects under construction, totalling 178 megawatts. There would be up to 70,000 of homes powered by renewable energy from those alone – all of which are projects which would incrementally bring us to over 300,000 homes powered with green energy across this island.
“For me, the excitement is always the next development. As a team, we focus project by project, what can we deliver, and what makes it the most competitive we can be to keep that momentum as we get those projects underway.”
Over his time with the company, Mr Hunter has seen it progress into a wider arc of renewable energy sources.
“Going back five years we were an Ireland and UK wind company, and over those intervening years we’ve made a huge jump into solar and brought that technical expertise into the company, which dovetailed with the existing experience we have on project development, design, construction management and operations, legal and trading to the market.
“So it was complementary as a technology – and we have two solar projects under construction right now in both Cork and Carlow – the first of which will be commercially operating later this year – a growth piece that is super exciting for us. In addition, we are progressing into energy storage, which is also a new departure for us.
“ We also acquired an operating and development business in Germany as part of our fold, and set up a business in Spain where we partnered with early development companies to get a platform working there. In effect, we have expanded out in a hugely successful renewable energy business story from Cork.
“The CEO for Perigus Energy is based out of Cork, along with a lot of our business development, legal and so forth also led from of here. It has been really satisfying to witness the business scale and diversify over the past five years, and we really want to build on that momentum with the launch of Perigus Energy.”
He adds that the company is hopeful of continued growth going forward: “We go project to project, we have a strong pipeline, and at the end of the day our main customer is the Government and their renewable targets, who want these projects generating green energy.”
Ireland’s strong renewable energy brand With the Irish investment landscape welcoming for renewable energy developments, Perigus Energy’s outlook in Ireland continues to be positive. ESRI figures project that Ireland’s population will exceed 6 million by 2040, with electricity consumption expected to double in that period.
The Climate Action Plan has set ambitious targets for 2030, with 9 gigawatts (GW) for onshore wind and 8 GW for solar.
Energy storage solutions are advancing to ensure wind and solar can be reliably integrated into the national grid. By harnessing its sustainable power capacity, Ireland seeks to position itself as a key leader in Europe’s green future, delivering affordable, reliable energy and attracting major investments.
“Ireland has a really strong brand when it comes to renewable energy. We have been very progressive as an island nation, which presents very particular challenges in terms of the grid network. While we can’t mesh into other countries quite like mainland Europe does – such as Spain connecting to France, France connecting to Italy and so forth – Ireland, as a country, has been very ambitious in how it has put so much of renewables into an island system.
“That is highly respected around the world, and how we’ve built our expertise engaging with communities is also very much recognised. Having a strong local community presence is critical in the renewable sector. We have incredibly experienced colleagues in all our markets – the United Kingdom, Germany, Spain – and you need that local expertise in each country, given they are unique in their needs, requirements and engagements.
“Ireland has an extremely strong brand when it comes to renewables, and it is a credit to the teams on the ground who have achieved that success over the course of the last decades.”
Given the conflict in Ukraine and, more recently, the ongoing war in Iran, governments and the general public have become more aware than ever of the vital need for the continued development of renewable energy.
“What has happened in Iran and the Gulf has been a real shock over the past number of weeks, and underlined the fragility of our transport needs and the costs associated with them. We have seen how an interruption on the Strait of Hormuz can have a huge impact on fossil fuel imports, and how it rolls out from there into the world’s economy. It reinforces what we know; that energy security is vitally important, and having a stable supply that is resilient against those shocks is critical.
“We have energy resources in Ireland, and decades of expertise in how to integrate renewables into the system, and it is for us to take advantage of that opportunity, just as other countries are, to help part of the energy ecosystem. Energy does cost, and everybody needs to accept that energy is going to cost, but by doubling down on renewables we can insulate against the shocks we are now seeing by expanding the stable supply that is home grown and does not involve global shipping.
“If we have a component that is wind when the wind blows, a component that is sun when it shows, and a component of storage when neither is there – then you are somewhat protecting yourself from those global price shocks and the geopolitical and social instability that can follow. Those global conflicts have been a wake-up call for everybody – but there is a pathway for stability and security there and we are excited to be part of the solution.”
