ESB has invested €2.5 million to take a minority shareholding in Irish solar company, Terra Solar, which will accelerate the development of solar energy generation in Ireland.

Terra Solar and ESB have the potential to deliver over 260 megawatts of electricity generation capacity from solar energy, which would power over 50,000 homes every year.
 
Terra Solar was founded by David Fewer and André Fernon and is headquartered at NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin.  

The company previously announced plans to develop solar farms in Kerry and Clare and is now also accelerating the roll out of solar farms across Limerick, Waterford and Wexford. 

Founders David Fewer and André Fernon said, "This investment by ESB is an important vote of confidence not only in Terra Solar but in the future of the solar industry here in Ireland.  The funding provided by this investment will enable us to accelerate the development of our sites in Munster and in Wexford over the coming months and years. We are delighted to have ESB as a strategic investor and partner in the business."

Source: www.businessworld.ie