DC Advisory advises Terra Solar on the sale of an Irish solar project to Orsted​

Background

• Terra Solar is a leading solar development company in Ireland, which develops, finances, constructs, and operates solar farms
• Orsted is Denmark’s largest energy company, and its shares are listed on Nasdaq Copenhagen since June 2016. Orsted develops, constructs and operates offshore and onshore wind farms, solar farms, and other renewable developments

Process

•  DC Advisory was engaged by Terra Solar to act as the financial advisor in relation to its proposed sale of a portfolio of solar development projects
• DC Advisory worked with Terra Solar to engage a global group of potential acquirers aligned to the shareholders’ vision and commitment to supporting the group's development plan​
• DC Advisory leveraged its knowledge of the energy, power and renewables space to identify a tailored group of appropriate buyers​ and provided hands-on support and comprehensive strategic advice on all aspects of the transaction

Outcome

• In March 2023, Orsted purchased the solar development project, Garreenleen Solar Farm, in Carlow. The phase 1 development is expected to create 81MV of power, with the second phase of the project comprising of a further 82MV
• This acquisition will enable Orsted to grow its solar energy presence in the Irish market and aims to grow its operational capacity in Ireland to 500MW
• This transaction further showcases DC Advisory's deep expertise in the energy and renewables sector