Foresight Energy Infrastructure Partners has acquired a stake in a pumped storage hydro project in Ireland, enhancing energy storage capacity and supporting the country's transition to renewable energy.

Target Information

Foresight Energy Infrastructure Partners S.C.Sp (FEIP) has acquired an equity stake in and committed capital for the development of a Pumped Storage Hydro (PSH) project located in the Republic of Ireland. This project is recognized as a European Project of Common Interest (PCI) and is of national importance due to its potential to enhance energy storage capabilities in the region.

The PSH project aims to repurpose a disused mine site with the objective of adding over 300 megawatts (MW) of flexible storage capacity to the National Grid. It is strategically situated on a 148-hectare site in Tipperary, in the Silvermines Mountain Range, and will involve the construction of two reservoirs capable of storing 1.8 gigawatt-hours (GWh) of energy, collectively serving as a crucial resource for energy management and balance.

Industry Overview

The energy sector in Ireland is undergoing a significant transformation aimed at reducing dependence on fossil fuels and increasing the share of renewable energy in its grid. This transition aligns with the government’s obj