Lightsource Renewable Energy is to invest its resources into Ireland for the development of solar power installations.

Nick Boyle, Lightsource's CEO and a native of County Antrim, commented: "We are excited by the opportunity for solar power in Ireland. Lightsource is committing significant financial investment and resource towards realising this opportunity. Any risks associated with the development of these solar projects, including installation costs, will be borne by Lightsource. This commitment will not only add to sustainable electricity generation in Ireland, it will also strengthen the local economy and supply chain.”

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"Our ground-mounted solar projects will provide much-needed land diversification for farming enterprises, and our rooftop systems will enable schools, businesses and community buildings to reduce overhead costs. It really is a win-win for local communities."

By 2030, 27% of Ireland's energy will need to come from renewable sources, according to the Government. Over the coming months, the European Union will announce new renewable energy targets for member states. In its report published in February, the Sustainable Energy Authority of Ireland said Ireland’s 2013 renewable energy production contributed 7.8% of the country’s final energy demand, putting Ireland almost halfway towards the target set of 16% under the European Union’s Renewable Energy Directive by 2020.

(CD)