Dublin-based Aer Soléir, an onshore wind, solar and energy storage company, announced on Monday that it has secured $250M (approximately €229.6M) equity funding commitment from 547 Energy International, the global clean energy investment platform of Quantum Energy Partners.
Aer Soléir’s 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.
About the investor
547 Energy aims to maximise value for its investors by partnering with entrepreneurs who are driving growth in the clean energy economy. To date, 547 Energy has invested in ConnectGen, BlueFloat Energy, Aer Soléir, certain affiliates of ENORA SA, and NetOn. The firm was founded and is led by industry veteran Gabriel Alonso and is backed by Quantum Energy Partners, a provider of capital to the global energy industry.
Founded in 1998, Quantum Energy Partners is a global provider of private equity capital to the responsibly sourced energy and energy transition and decarbonisation sectors, having managed together with its affiliates more than $18B in equity commitments since inception.
Gabriel Alonso, CEO of 547 Energy, says, “Aer Soléir founders Andy and Manus have assembled a deeply experienced and talented team that will support Europe’s near-term renewable energy targets and ambition to transition to a clean energy economy. We are confident in Andy, Manus and the team’s ability to grow Aer Soléir into a leading European pure-play renewable energy developer, as the team works to develop the projects needed to transition to a clean energy economy.”
Supporting Europe’s clean energy future
The European Green Deal provides the policy roadmap to transition Europe to a clean energy economy and sets into motion Europe’s political ambition to be the world’s first climate-neutral continent by 2050. Aer Soléir believes that there is no better time than now to invest in the accelerating clean energy transition in Europe.
The mission of Aer Soléir – Irish for “clear air” – is to develop, construct, own, and operate a multi-gigawatt portfolio of onshore wind, solar and energy storage projects that will provide material, long-term economic benefits to local landowners and communities throughout Europe. “We strive to supply safe and reliable clean energy to our customers while delivering robust returns for our investors,” says the company.
Aer Soléir comprises 20 employees who are actively sourcing development-stage projects across the European Union. The company is led by its two Founding Partners, Andy Kinsella, as CEO, and Manus O’Donnell as CFO. Both Kinsella and O’Donnell will also support Aer Soléir’s growth as Board Directors.
Andy Kinsella brings over 35 years of experience in the international energy sector to the business. He has held leadership positions at companies including Ireland’s Electricity Supply Board (ESB), ESB International, GE, Siemens and most recently Mainstream Renewable Power where he served as CEO. Manus O’Donnell was most recently Chief Investment Officer of NTR plc, a Dublin-based investor in, and asset manager of, renewable energy projects with a focus on wind, solar and storage projects in Europe and the US. He previously held senior financial leadership positions in Mainstream Renewable Power and Airtricity.
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.”