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The project will finance the construction of four solar photovoltaic plants (PV) totalling 395 MWp in Ireland.
Renewable power plants contribute to progress on the national and EU energy and climate goals, namely decarbonise electricity production in the EU and decrease the reliance on fossil fuels. The project is therefore eligible under Article 309 point (c) common interest.
Solar PV plants fall under the Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU (amending the EIA Directive 2011/92/EU), therefore leaving it to the competent authority to determine according to Annex III of the said Directive whether an Environmental Impact Assessment (EIA) is required. Given that China largely dominates the solar panel market, and media have reported the risk of child labour, enhanced due diligence will be applied in line with the EIB's Environmental & Social Standards. The project is expected to contribute to Climate Action and Environmental Sustainability objectives, in particular to climate change mitigation and pollution prevention and control.
The promoter is a private company and the schemes envisaged for this operation are market-based renewable energy projects, which do not enjoy any special or exclusive rights. Therefore, private sector procurement procedures should apply.