Irish solar and BESS portfolio secures milestone financing

DLA Piper has successfully advised Rabobank and Siemens Financial Services on the financing of Monvallet, a ready-to-build solar and battery energy storage system (BESS) portfolio in County Louth. The initial EUR 65 million debt package covers the first two projects, forming part of a broader portfolio financing facility for NTR.

The Monvallet portfolio, acquired earlier this year for the L&G NTR Clean Power (Europe) Fund III, has a combined capacity exceeding 211 MW. The financing includes accordion facilities to accommodate future projects, including a 115 MW solar development also under NTR ownership.

Led by project finance partner Seán McGrenaghan, with energy partner William Marshall and real estate legal director Barry Noonan, the DLA Piper team brought the financing to close in record time. The transaction is regarded as one of Ireland’s first true BESS and solar portfolio financings, providing NTR with a strategic platform for continued expansion.

Natasha Luther-Jones, Global Co-Chair of DLA Piper’s Energy and Natural Resources sector, highlighted the speed and cross-border coordination achieved by the Irish and UK Energy teams, underscoring the firm’s capacity to deliver complex portfolio financings across multiple technologies.

Discover the full transaction details and its implications for Ireland’s c lean energy growth.