Capital Dynamics, the global private asset management firm, has acquired a ready-to-build battery energy storage system project in Knockanure, County Kerry, in the Republic of Ireland, marking the firm's first investment in the country.

Project Details and Grid Connection

The project, announced on 20 August 2026, has secured grid connection capacity of 170MW at the neighbouring 110kV Knockanure substation and is configured as a four-hour battery energy storage system.

According to Capital Dynamics, the project will be among the first to be delivered in the Republic of Ireland as a long-duration energy storage solution, under the classification used by grid operator EirGrid. Planning consent for the project was secured in October 2025, and work has now started on procurement and delivery planning.

The project was acquired from a group of private shareholders. Capital Dynamics was advised by Pinsent Masons on legal matters, Afry on technical matters, and Mazars on financial matters.

Ireland's Storage Market and Grid Pressures

Capital Dynamics cited the Republic of Ireland's high and rising share of renewable electricity generation as a central driver behind the investment. With a significant portion of the country's electricity produced by renewable sources, the firm noted that additional flexibility will be required to support a grid that is already experiencing rising curtailment rates.

Curtailment occurs when electricity generation from renewables exceeds what the grid can absorb or transmit, forcing operators to reduce output from wind and solar installations even when they are capable of producing power.

Long-duration energy storage projects are described by Capital Dynamics as an essential part of Ireland's energy security and grid flexibility strategy. By charging when generation exceeds demand and discharging at times of system need, battery energy storage infrastructure provides grid stability that the firm says directly supports the local economy and community.

Expansion Within the Irish Single Electricity Market

The Knockanure acquisition adds to Capital Dynamics' existing portfolio of long-duration energy storage projects in the broader Irish Single Electricity Market, which encompasses both the Republic of Ireland and Northern Ireland. While the firm characterised this deal as its first investment specifically in the Republic of Ireland, it has previously been active in the wider Irish market.

Barney Coles, Senior Managing Director and Co-Head of Clean Energy at Capital Dynamics, said the firm was pleased to announce its first investment in the Republic of Ireland and to add to its growing portfolio of long-duration energy storage projects in the Irish Single Electricity Market.

Coles added that battery energy storage projects are required to offer local businesses and communities an efficient and fast way to strengthen energy security and grid resilience.

Coles further described the Republic of Ireland as one of the most compelling storage markets in Europe, citing a combination of high and rising renewable generation and what he called a clear policy commitment to decarbonise the country's grid.

He said these factors together create a structural demand for battery energy storage solutions, and that Capital Dynamics looks forward to supporting the build-out of Ireland's low-carbon energy network.

About Capital Dynamics

Capital Dynamics is an independent global asset management firm established in 1988 that focuses on private assets, including private equity across primaries, secondaries, and direct investments, as well as clean energy.

The firm oversees more than USD 15 billion in assets under management and advisement as of 30 June 2026 and employs approximately 150 professionals globally across 14 offices in Europe, North America, and Asia.

The firm describes itself as a recognised industry leader in responsible investment, stating it has received top marks, designated as Five Stars, from the Principles for Responsible Investment across all categories and investment strategies, as well as recognition in GRESB benchmarking for its clean energy strategy.

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