Aer Soléir, a Dublin-headquartered onshore wind, solar and storage platform, has secured £190 million ($250 million) of equity funding from 547 Energy International to develop, construct, own and operate renewable energy projects across Europe.

Aer Soléir is newly founded, led by chief executive Andy Kinsella and chief financial officer Manus O'Donnell, who both sit on its board alongside a 20-person team now sourcing development-stage projects; the company does not yet report revenue. 547 Energy is the clean energy investment platform of Quantum Energy Partners, a US private equity firm founded in 1998 that has committed more than £14 billion ($18 billion) of equity to energy transition and responsibly sourced energy investments to date.

The structural driver is private equity capital moving upstream into pre-development-stage renewable platforms rather than operating assets, as investors look to capture returns earlier in Europe's project pipeline. Backing a newly formed team rather than an existing portfolio lets Quantum secure origination access across multiple European markets through a single platform investment.

Kinsella has spent 35 years in the energy sector, including leadership roles at Ireland's ESB, ESB International, GE, Siemens and most recently Mainstream Renewable Power. O'Donnell previously worked at asset investor NTR plc, and has also held leadership positions at Mainstream Renewable Power and Airtricity.

Manus O'Donnell said, "the timing could not be better to launch Aer Soléir, a European-focused renewable energy platform," adding that the team was "pleased to have the expertise and the capital that 547 Energy provides" as it grows partnerships with emerging developers across Europe. Sean O'Donnell, partner and head of energy transition at Quantum, said "the demand for renewable energy projects to accomplish Europe's energy transition is staggering," and that Quantum was "pleased to back Andy, Manus and the Aer Soléir team" as they guide assets to operation.

For the sector, the platform's launch shows international private capital continuing to back Irish-founded management teams as a route into Europe's renewable development pipeline, ahead of any projects being secured.

Source: solarpowerportal.co.uk