Obton is set to double its investment in the Irish solar energy market.

The company plans to expand its portfolio and solar energy projects in Ireland to reach a total capacity of 1 Gigawatt (GW) by 2026.

This major increase will see the total value of their portfolio and projects reach an investment of €750m in the sector in Ireland.

This increased ambition from Obton and its Irish partner Shannon Energy, is set to happen over the next five years.

It is anticipated that the significant expansion will also mean the number of jobs their venture in the Irish market will create will rise to 2,000 over the coming years. The roles will largely be created during the construction phase.

This major expansion from the Danish-Irish partnership comes just over a year after it entered the market in Ireland in January 2020 with plans to develop up to 500 MW of solar projects, which would have represented an investment of €300m.

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The partnership between Obton and Shannon Energy is one of four joint ventures the Danish investment fund has in Europe. Private equity fund FSN Capital last year purchased a 45% stake in the Obton Group.

Last year the Danish-Irish partnership submitted 11 solar projects in the first round of the Irish Government’s Renewable Electricity Support Scheme (RESS) and were subsequently awarded contracts for all of these projects.

These projects are located in eight counties around the country, including sites in Wexford, Waterford, Cork, Longford, Galway, Offaly, Meath and Tipperary. The combined 118 MW of power generated will be enough to fulfil the yearly energy requirements of up to 20,000 households.

Construction will begin this June on Obton and Shannon Energy’s first project here - Horsepasture, an 8MW solar park located in Clonmel, county Tipperary.

Anders Marcus, CEO of Obton, said: "We are delighted to announce our expansion and increased investment plans for Ireland, as it represents our enhanced commitment and ambitions for the sustainable energy market in this country.

"Our partnership with Shannon Energy has successfully facilitated our investment in the Irish market and we look forward to continuing to expand the role of solar as part of the Irish Government’s ambitious objective of having 70 percent renewal energy by 2030."