Waterford-based Enerpower to deploy 500MW of renewable energy in Ireland – Irish Times

Waterford-based renewable energy company EnerPower has partnered with Portuguese renewable energy organization Greenvolt to deploy 500MW of renewable energy and create 100 new jobs in Ireland over the next five years. announced.

Founded in 2005, Enerpower provides renewable energy services to businesses, from evaluation and design to installation and operation of technologies such as solar panels, wind turbines, biomass boilers and heat pumps.

Enerpower’s customers include PepsiCo, Lidl, Pfizer and Virgin Media, and it has power purchase agreements with companies such as Eli Lilly and Tesco.

Greenvolt Group acquired a majority stake (51%) in EnerPower in October last year as part of a deal with a total investment of €25 million, which includes an option to increase the stake to 100% by 2028. It was

Ireland plans to install 500MW of renewable energy, enough to power the city of Dublin, over the next five years, with a significant increase in the more than 110MW of renewable energy Enerpower has installed and maintained across the country to date. It is an increase.

The companies announced that this development will create 100 new jobs in the sustainable energy sector.

He added that he was also looking at the UK renewable energy market as a “next step”.

Enerpower chief executive Owen Power said the partnership with Greenvolt Group was a “significant step forward” for the sustainable energy sector.

He said: “This partnership creates many new opportunities and will enable us to achieve the ambition we set out early on in our journey to become Ireland’s leading renewable energy company.” .

“As a company, we are committed to helping businesses across Ireland reduce their carbon footprint and contributing to the Irish Government’s aim to increase the proportion of our energy from renewable sources to 80 per cent by 2030. “We are doing so,” he added.

Greenvolt Group CEO João Manso Neto said Ireland was a “key energy market” for the company’s expansion plans.

“EnerPower has similar ambitions as our company, which already has an internationally renowned clientele and strengthens its ability to take advantage of the many opportunities in Ireland and the UK,” he said.

According to the financial results of Bioenergy Power Systems Limited, trading as Enerpower, the company’s sales increased by 113% in 2022 to €21.7 million. The company reported a profit after tax of 2.2 million euros in 2022 and employed around 34 staff.

Greenvolt Group reported total revenue of 259.7 million euros and net profit of 16.6 million euros in 2022. In total the group has a pipeline of 7.7GW of renewable energy projects and employs nearly 500 people in 16 countries.