Elgin Energy Celebrates Milestone Portfolio Sale: An Important Step Towards a Sustainable Energy Future

Elgin Energy Celebrates Milestone Portfolio Sale: An Important Step Towards a Sustainable Energy Future

Dublin, Ireland – Elgin Energy, a leading international solar company, is pleased to announce the
portfolio sale of 191MW of 16 solar projects across Ireland to Allianz Capital Partners on behalf
of Allianz Insurance Companies and further institutional investors. Elgin will provide
construction, asset management, trading and optimisation services to the portfolio, establishing
a long-term commitment to the projects.

This marks an evolution for Elgin Energy as this transaction sets a new standard in the company’s
approach towards project development. 14 out of the 16 projects have secured contracts under
the Renewable Electricity Support Scheme (RESS) 2, while the remaining two projects have
secured RESS 3 contracts. The projects will start construction next year and will reach
energisation throughout 2024 and 2025.

Ronan Kilduff, CEO of Elgin Energy, expressed his enthusiasm for this partnership, stating, “This
is a pivotal moment for Elgin Energy. What we meticulously planned and worked towards over the
past three years is now being realised through this project with Allianz Capital Partners. We look
forward to not only continue contributing to Ireland’s renewable energy landscape but also working
on this project with Allianz Capital Partners for years to come.”
Building upon Elgin Energy’s success with the UK’s largest solar PV transaction in 2022, the
completion of this transaction reinforces the company’s position as an integrated international
solar company. Elgin Energy’s pipeline spans 14GW+ across the UK, Ireland and Australia, with a
strong track record of success in government-backed auctions and securing financing for its
growth strategy.

About Elgin Energy
Elgin Energy (Elgin) is a leading international solar company, bringing projects from origination through
development to energisation. The company has a portfolio of projects in late-stage development totalling
14GW+ across three key markets: the UK, Australia and Ireland, with an unparalleled 98% success rate in gaining
planning permission across all its markets. Since being founded in 2009, Elgin has expanded internationally and
has a team of over 80 people in its Dublin, London and Sydney offices.
With a multi-GW pipeline across three technologies (solar only, co-located and storage only) in development
across the UK, Ireland and Australia, it is regarded as one of the most active and experienced developers in each
market. To date, it has delivered close to 1GW of ready-to-build solar PV and storage projects and in recent
years, the company was successful in the UK and Ireland government-backed auctions (UK CfD and the Irish
RESS-1, RESS-2 and RESS-3) on a total of 30+ projects.
www.elgin-energy.com & https://www.linkedin.com/company/elgin-energy-limited/

About Allianz Capital Partners
Allianz Capital Partners is one of the Allianz Group’s asset managers for alternative equity investments and part
of Allianz Global Investors. Allianz Capital Partners manages over 59 billion euros in alternative assets for the
Allianz Group and third-party investors*. Our investment focus is on private equity, infrastructure and renewable
energy. Our investment strategy aims to generate attractive, long-term and stable returns for our clients.
*Data as of September 30, 2023

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