Impressive Irish solar portfolio Divested for €230M
Underscoring significant investor appetite for Irish renewable assets, global solar developer ib vogt has successfully divested a 272 MWp portfolio of three solar farms for an enterprise value of approximately €230 million. The sale to international institutional investors, announced in October 2021, marks a major milestone in Ireland’s transition to clean energy.
Exploring the Impressive Irish solar portfolio Divested for €230M
The transaction encompasses three utility-scale projects developed by Highfield Solar, a joint venture that includes ib vogt. The individual assets contributing to the 272 MWp total capacity are strategically positioned across the country:
- Rathnaskilloge: A 107.7 MWp project in County Waterford, which was wholly owned by ib vogt.
- Gaskinstown: A 94.7 MWp solar farm located in County Meath.
- Clonin North: A 69.4 MWp site situated in County Offaly.
Revenue Certainty and Project Timeline
A crucial element underpinning the portfolio’s value is the securing of 15-year capacity agreements for each project under the Irish government’s Renewable Electricity Support Scheme (RESS) 2. This scheme provides long-term revenue stability, making the portfolio a highly attractive asset class for institutional capital.
The projects are being brought online in phases. Gaskinstown and Rathnaskilloge achieved commercial operation in August and September 2025, respectively, with the sale reaching financial close in December 2025. The final asset, Clonin North, is scheduled for commissioning in mid-2026, at which point its sale will be finalized.
Lasting Impact and Continued Involvement
Once fully operational, the combined output of the three solar farms is projected to reach 275 GWh of clean electricity annually, enough to power thousands of homes and displace an estimated 70,250 tonnes of CO2 emissions each year. ib vogt managed the projects’ full lifecycle, providing Engineering, Procurement, and Construction (EPC) services. Further demonstrating its long-term commitment, the company will continue to deliver Operations and Maintenance (O&M) services for the portfolio. The deal was expertly guided by financial advisor KPMG and legal counsel from Mason Hayes & Curran LLP.
Sources
- Hill & Smith – Annual Report 2025
- EnBW Annual Report 2025
- DIF Capital Partners to become majority shareholder in global solar …
- 2025 Annual Report – Power Corporation du Canada
- RWE Annual Report 2025
- Annual Report 2025 – SES
