Energy company Energia Group has bought Irish solar developer Solar Farmers Ltd, which has two solar projects in Co Meath.
The two projects, Glenamoy and Darthogue, have planning permission for the construction of solar infrastructure that will generate up to 32MW of exported power with the potential for future expansion to 220MW.
The two projects will produce enough electricity to power 9,000 homes, with the intent to further expand the plants to a scale that could service 58,000 homes in the future.
Today's deal marks the first solar acquisition under the group's five year €3 billion renewable energy investment programme which was announced earlier this year.
Announced in July, Energia's "Positive Energy" investment programme will be implemented across a range of renewable energy projects including onshore and offshore wind farms, solar power, hydrogen fuel generation, bio-energy facilities and the smart grid.