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Lightsource To Invest €500 Million Into Solar Power In Ireland

Lightsource Renewable Energy has revealed that it intends to invest heavily into Ireland’s burgeoning solar industry.

Hailed as the largest solar energy generator in the UK, and as the largest solar energy company in Europe, Lightsource Renewable Energy announced on Monday that it would make “an investment of significant resource and expertise into Ireland for the development of solar power installations.” It has since been reported that the investment will amount to €500 million, and that — with the proper incentives — solar power in Ireland could generate up to 1.5 GW worth of electricity each year by 2020.

Lightsource-1Specifically, Lightsource announced these plans:

  1. Intensive engagement with businesses, schools and local communities across the country
  2. Bid to strengthen the local economy and supply chain with industry expertise and cheaper electricity
  3. Major investment into network infrastructure and national targets for renewables

“We are excited by the opportunity for solar power in Ireland. Lightsource is committing significant financial investment and resource towards realising this opportunity,” said Nick Boyle, Lightsource’s CEO. “Any risks associated with the development of these solar projects, including installation costs, will be borne by Lightsource. This commitment will not only add to sustainable electricity generation in Ireland, it will also strengthen the local economy and supply chain.”

Lightsource intends to work with farmers, property owners, and other locals, to ensure that solar has the best opportunity to boost renewable energy generation in Ireland.

“Our ground-mounted solar projects will provide much-needed land diversification for farming enterprises, and our rooftop systems will enable schools, businesses and community buildings to reduce overhead costs. It really is a win-win for local communities,” Nick Boyle added.

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