PCRE secures CfD in Ireland’s RESS 4 auction
Power Capital Renewable Energy (PCRE) has secured the highest volume of mega-watts awarded in the solar category of Ireland’s RESS 4 auction this week.
Following previous successes in RESS 1, 2, and 3, Power Capital Renewable Energy, based in Dublin, has secured a further Contract for Difference (CfD) award for two projects which will have an installed cumulative capacity of 280 MWp in Ireland’s latest renewable electricity support scheme.
This result, announced on 9 September 2024, has put PCRE ahead of the competition in terms of volume awarded for solar energy. This brings it up to 1 GW of capacity for which routes to market have been secured by PCRE, a major milestone for the company and the industry.
This result further strengthens PCRE’s leading position in the Irish solar market, having recently completed the construction of four projects totalling 230 MWp, each of which is supported by a corporate purchase power agreement with large technology companies.
PCRE has also now commenced construction on a further 330 MWp of RESS 2 assets and expects to start construction of its RESS 3 and RESS 4 projects in 2025.
Justin Brown, CEO of PCRE, said: “It is positive to see the momentum building towards the government’s 2030 targets of producing 80% of Ireland’s electricity from renewable sources. PCRE is delighted to be contributing to this, and the recent RESS 4 success allows us to continue to build upon our track record in the delivery of projects onto the Irish grid.”
PCRE’s latest projects will be developed in counties Tipperary and Wexford.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Summer 2024 issue
The Summer 2024 issue of Energy Global starts with a guest comment from Terrawatt on the streamlining of the permitting process in Italy, before moving on to a regional report from Frost & Sullivan on the energy landscape in Asia Pacific. This issue looks at key topics such as wind installation vessels, offshore wind turbine foundations, weather analysis, solar maintenance, and more!
Read the article online at: https://www.energyglobal.com/solar/12092024/pcre-secures-cfd-in-irelands-ress-4-auction/
