Omnes Capital and Infranity have announced a new strategic equity partnership with independent Irish solar producer Power Capital Renewable Energy.
The partnership will ‘accelerate Power Capital’s next phase of growth’, as well as bolstering Ireland‘s energy transition, Power Capital said in a statement.
Power Capital currently operates 230 megawatts (MW) of solar photovoltaic (PV) capacity, with around 330 MW under construction and a project pipeline exceeding 5 gigawatts (GW) across solar PV and BESS. It has also delivered close to 1GW of ready-to-build solar PV projects with secured offtake through power purchase agreements and government-backed subsidies.
Omnes has been an investor in Power Capital since 2020.
‘A pivotal moment’
“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,” commented Justin Brown, CEO of Power Capital.
“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.”
Under the terms of the equity partnership, Omnes, Infranity, and Power Capital’s management will oversee the execution of the company’s business plan, which will include investment in battery energy storage systems (BESS) and enhanced offtake optionality.
‘Execution and vision’
“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,” added Jean-Baptiste Delattre, director at Omnes. “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.”
The transaction is expected to close by the end of September 2025, subject to regulatory approval. Power Capital was advised by Akereos Capital as financial adviser, with legal support from Dentons, Arthur Cox, and Philip Lee. Infranity was advised by Rubicon Capital Advisors and A&L Goodbody. Read more here.
