Lirion Power, an Irish renewable power operator and developer, has agreed to acquire a five-asset onshore wind portfolio totalling 77 megawatts from Global Infrastructure Partners, a part of BlackRock, the company announced. The transaction is expected to close shortly and takes Lirion Power's total renewable energy platform to 200 MW.

Portfolio Composition and Geography

The acquired portfolio comprises five operating wind farms spread across five Irish counties. The sites are Acres in Donegal, Barranafaddock in Waterford, Knockaneden in Kerry, Ballagh in Limerick, and Raragh 2 in Meath. The farms are equipped with GE and Enercon turbines ranging in capacity from 2.3 to 2.85 megawatts per unit.

Lirion Power is backed by Norwegian private equity firm HitecVision and specialist energy transition investment firm Reinova Partners. HitecVision has over four decades of experience in energy investment, has built or invested in more than 200 energy companies, and has raised approximately nine billion euros from institutional investors.

It is headquartered in Stavanger with offices in Oslo and London. Reinova Partners focuses on clean electricity, industrial and built-environment decarbonization, clean fuels, and other sustainable solutions.

Strategy: Life Extension, Hybridisation and Repowering

Lirion Power's stated approach centers on improving existing assets and optimizing the use of established infrastructure rather than developing greenfield projects from scratch. The company describes maximizing and expanding the contribution from existing assets as representing the lowest cost of power generation capacity.

The turbine specifications of the newly acquired sites are described by the company as well suited to this strategy, which encompasses life extension, hybridization with battery storage and solar generation, and eventual repowering.

Chief Executive Officer Donal O'Sullivan said the objective is to ensure the assets can continue to generate clean, low-cost electricity long into the future while making maximum use of existing grid connections by adding complementary technologies such as solar and battery storage.

According to the company, these sites bring with them established grid connections, planning history, and existing community relationships, all of which are identified as enabling factors for the hybridization and repowering work that Lirion Power intends to undertake.

Energy Security and Consumer Cost Implications

Lirion Power stated that its approach is designed to support reduced electricity prices for Irish consumers by extending the productive life and operational output of proven sites.

The company also cited enhanced security of supply as a benefit, to be achieved by keeping high-performing generation sites operational and pairing them with battery storage and solar capacity.

The third stated objective is continued progress towards Ireland's climate targets through maximising output from sites with established infrastructure and community relationships.

The company positions its model as directly addressing Irish energy costs and supply reliability through the retention and enhancement of existing generation capacity rather than the construction of new facilities.

Corporate PPA Market Opportunity

The enlarged 200 MW platform is also expected to open new opportunities in the corporate power purchase agreement market. Lirion Power said that as hybridisation and repowering work progresses across the newly acquired sites, it expects to bring additional contracted capacity to the corporate PPA market.

The company indicated this would support Irish businesses seeking long-term, competitively priced renewable power to meet sustainability targets and secure long-term fixed electricity prices.

Community Engagement Commitment

Lirion Power described itself as committed to being an active, hands-on owner of the assets it acquires and to engaging directly with the communities surrounding each project in its portfolio.

O'Sullivan noted that the communities that have hosted these wind farm sites for years are the same communities the company expects to work alongside as it continues to operate the existing assets and invest in their next phase of development.

Company Background and Growth Trajectory

Lirion Power describes its focus as mid-life wind assets, life extension, battery storage hybridisation and repowering, aimed at maximising the value of Ireland's existing wind and solar infrastructure. The company said further growth is planned in the coming months beyond the 200 MW platform level now reached through the GIP acquisition.

The seller, Global Infrastructure Partners, operates as part of BlackRock following its acquisition by the world's largest asset manager. Financial terms of the transaction were not disclosed.

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