Omnes, the Paris-based investor in private equity and infrastructure, has acquired a controlling stake in the Irish solar PV developer Power Capital Renewable Energy (PCRE) via its fourth-generation renewable energy fund, Capenergie 4.
With Omnes’ backing, PCRE will focus on developing and building its 500-megawatt solar photovoltaic (PV) portfolio in Ireland. The joint venture between the companies has already yielded its first success. PCRE was awarded a feed-in tariff for four projects with a total of 27 megawatts in the first auction under the Renewable Electricity Support Scheme (RESS 1) which took place in August.
“Our partnership will allow PCRE to transform into a true Irish independent power producer in the coming years and build a strategic position in Irish solar PV,” said Michael Pollan, partner at Omnes. “In addition to the recently and successfully launched RESS, we believe Ireland’s renewable energy landscape will also be transformed through pr
