EUROPE'S leading solar energy company has announced its plans for “significant” investment in Ireland.
Headed by Antrim native Nick Boyle, London-based Lightsource Renewable Energy is expected to invest several hundred million euro over the next five years.
The Irish Government require that by 2030, 27% of Ireland’s energy will need to come from renewable sources.
Chief Executive of Lightsource Mr Boyle, believes that the company’s various solar projects, directed at farmers, schools and businesses would not only help to achieve this target, but also create a “win-win” for the local communities.
Following the announcement of the company’s plans to move into the Irish market he said that he was excited by the opportunity.
“This commitment will not only add to sustainable electricity generation in Ireland, it will also strengthen the local economy and supply chain,” he said.
“The benefits from solar power are very immediate and tangible. Farmers and landowners can continue their agricultural activities by grazing small livestock around ground-mounted panels. With rooftop installations, our customers have experienced over a 60% reduction in daytime electricity costs.”
The firm develops stand-alone solar farms and works with property owners who rent out their land to host solar panels. Lightsource also install and maintain the panels during their lifetime.
When asked why the Ireland is an attractive market for solar power, Mr Boyle said: "The biggest solar market in the world is Germany, which has similar radiation levels to the UK, which has similar levels to Ireland.”
He also suggested that the process could be very rapid.
"Solar is different in deployment to something like wind,” he said. “Our average deployment in the UK would be about nine months. We believe that if the market gets the funding it requires, it could be a 1.5 gigawatt (GW) market over the next five years.
"We would be very disappointed if we were not the owners of several hundred megawatts."
Lightsource Renewable Energy currently employs 350 people and has five offices in total, including Belfast and Dublin.
Last year, the company gained planning permission for a solar farm in Crumlin, Co Antrim.
