Omnes Capital and infrastructure investor Infranity have launched a joint venture with Power Capital Renewable Energy, an independent solar power producer (IPP) and battery energy storage systems (BESS) company in Ireland.
Omnes and Infranity said the partnership is designed to accelerate Power Capital’s next phase of growth while advancing Ireland’s energy transition.
Power Capital owns a 230MW operational fleet of solar PV, 330MW under construction and has a 5GW pipeline of solar PV and BESS, making it the largest solar IPP in Ireland.
The company operates across the entire life cycle of its power plants, developing, constructing and operating the assets and has delivered close to 1GW of ready-to-build solar PV projects with secured offtake through power purchase agreements and government-backed subsidies.
Omnes, Infranity and Power Capital’s management team will support execution of the company’s business plan, “focusing on disciplined deployment, including in BESS, and enhanced offtake optionality, while maintaining best‑in‑class asset operations and HSE standards”.
Jean-Baptiste Delattre, director at Omnes, said: “Over the past four years, we have worked closely with the Power Capital management team to support the company’s evolution into Ireland’s leading solar IPP. Their execution, vision, and commitment to operational excellence have been instrumental in reaching this milestone.
“We’re delighted to welcome Infranity as a strategic partner in the next phase of growth. The investment will further strengthen the company’s leadership position and enhance the company’s ability to deliver on its ambitious pipeline.”
Jaime Héctor, co-head of Infranity’s equity strategy, said: “We are pleased to partner with Omnes as a key shareholder of Power Capital. We have been impressed by what the management team, supported by Omnes, has achieved and by their plans to address the country’s energy transition.
“We look forward to contributing actively to the continued growth of Power Capital, including into BESS, helping to build a balanced portfolio across technologies. This strategic investment perfectly matches our funds’ mandates and represents another milestone for our latest equity fund.”
Justin Brown, CEO of Power Capital, said: “This landmark capital raise marks a pivotal moment for Power Capital as we accelerate the delivery of over 5GW of solar PV and BESS projects across Ireland. The backing from new shareholder Infranity alongside the continued support of Omnes, reflects strong confidence in our vertically integrated model and our mission to lead Ireland’s energy transition.
“With this funding, we are well-positioned to scale our operations, create long-term value, and contribute meaningfully to a more sustainable energy future.”
To read the latest IPE Real Assets magazine click here.
