Greenvolt Next has begun construction on a 12MW solar farm at Barryscourt, County Cork, after being appointed by Irish developer Voltclub to deliver the project under an EPC contract. The build, which broke ground in mid-August, will see almost 20,000 solar panels installed ahead of completion targeted for September 2027.

Greenvolt Next is part of Greenvolt Group, a Lisbon-headquartered renewable energy developer majority owned by KKR, which reported group revenue of €188 million for the first half of 2024. Voltclub is a Dublin-headquartered renewable energy developer and independent power producer founded in 2020, originating, funding, developing and operating solar, wind and battery storage projects.

The structural driver is Irish domestic banks stepping into project finance for corporate-scale renewables, reducing developers' reliance on international green bonds or overseas lenders for mid-sized solar builds. PTSB, the majority state-owned bank listed on Euronext Dublin, which reported profit before tax of €159 million on total income of €672 million for 2024, is providing project finance for Barryscourt as Voltclub's banking partner.

Greenvolt Next has previously delivered EPC contracts and PPA agreements for Irish and multinational clients including the Sanofi Waterford solar farm, Lidl, Aldi and Tesco, and says it cut customer emissions by 30,000 tonnes of CO2 in 2025, with a further 150,000 tonnes projected over the next three years.

John Carty, chief commercial officer of Greenvolt Next Ireland and UK, said the company is "delivering projects of scale that will enable businesses and providers to meet" Ireland's growing energy demands. James Goldsmith, chief executive of Voltclub, said the milestone shows the company's ability to take projects "from origination and consenting through financing and into construction." Paddy Ryan, PTSB's regional head of business banking for the south and east, said the bank was providing "tailored project finance solutions to developers and investors across Ireland's renewable energy sector."

For the sector, Barryscourt shows Irish domestic project finance increasingly underwriting the EPC pipeline for large energy users, rather than corporate renewables development relying solely on international capital.

Source: irishtechnews.ie / greenvolt.com / rte.ie