Irish renewable energy firm Aer Soléir has successfully secured $250m (€227m) equity funding commitment from 547 Energy, having first partnered with the US-based company last year. Fieldfisher's Corporate and Renewables team were delighted to act on behalf of the incoming management team, led by Andy Kinsella (CEO) and Manus O'Donnell (CFO), in the transaction.
Aer Soléir – Irish for “clear air” – is dedicated to accelerating the energy transition in Europe. Its strategy is to support Europe’s ambition to become the world’s first climate-neutral continent by 2050 by developing, constructing, owning and operating renewable energy projects throughout Europe. In particular the company invests in sustainable infrastructure projects from early-stage development through to Final Investment Decision (FID), and beyond.
Led by Andy and Manus, Aer Soléir currently comprises of 20 employees who are actively sourcing development-stage projects across the European Union.
Andy Kinsella says, “We have built a team that is fostering early-stage development and guiding projects through licensing, financing, engineering, construction and operation. As we grow, we are guided by our mission to develop and build large-scale renewable energy transition projects that will provide material, long-lasting economic benefits to communities across Europe.”
Manus O’Donnell adds, “The timing could not be better to launch Aer Soléir, a European-focused renewable energy platform. We are pleased to have the expertise and the capital that 547 Energy provides, and we look forward to growing our partnerships with emerging developers across Europe.”
On Fieldfisher's role in the transaction, Head of Corporate and Renewables Feilim O'Caoimh commented, "We are thrilled to have advised the Andy and Manus on their deal with 547 Energy. Aer Soleir promises to further advance the drive for clean energy in Europe, and we are excited to continue to provide expert legal support in that regard".
The Fieldfisher team was led by Feilim, with support from Teodora Puiu (Solicitor), Rosha Canavan and Barry Walsh (Partner, Employment).
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