March 2 (Renewables Now) - Irish renewable energy project developer Highfield Energy is partnering with Temporis Aurora Fund to develop onshore wind projects with a total capacity of at least 200 MW in Ireland.
Thanks to the joint venture (JV), Highfield will have funds to develop wind projects over the next five to eight years. Some of the capacity will be built under the new state-backed Renewable Electricity Support Scheme (RESS) and other projects will seek power purchase agreements with corporate clients.
The new JV will not compete in the first RESS auction, but Highfield intends to bid for about 300 MW of solar projects on its own, managing director Peter Kavanagh told the Irish Independent.
Temporis Investment Management launched Temporis Aurora Fund at the end of 2018 with the goal to back 1 GW of renewable energy projects in Ireland. Fund backers include the Ireland Strategic Investment Fund (ISIF), Allied Irish Banks plc (AIB) and Encavis AG. Over its 12-year life, the fund will invest up to EUR 125 million in Irish renewables.
(EUR 1.0 = USD 1.109)