Aer Soleir
Aer Soléir is a Dublin-headquartered European renewable energy developer founded in 2021, building utility-scale onshore wind, solar PV, and battery storage projects across Greece, Italy, Ireland, Spain, and Portugal, serving corporate offtakers (e.g., Amazon), utilities (e.g., Shell/EGO Energy), and government energy authorities via long-term PPAs, tolling agreements, and auction-backed contracts.
- Company typePrivate
- Founded2021
- HeadquartersDublin, Ireland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Aer Soleir does
Aer Soléir is a Dublin-headquartered European renewable energy developer founded in April 2021, focused on developing, constructing, and operating utility-scale onshore wind, solar PV, and battery energy storage system (BESS) projects across five European markets: Greece, Italy, Ireland, Spain, and Portugal. The company operates a resource-lite business model that outsources resource-intensive early-to-mid stage development to local partners via Development Services Agreements (DSAs) while retaining in-house responsibility for procurement, contracting, project finance, and power offtake. Its 2.2 GW active development pipeline includes a 417 MW contracted advanced-stage Greek wind portfolio (with 360 MW under construction), the 250 MW / 1 GWh Rondissone BESS in Italy (the largest BESS under construction in the country), and RESS 4 auction winners in Ireland.
Revenue is generated through long-duration offtake contracts: 15-year corporate Power Purchase Agreements with blue-chip buyers (notably Amazon for the Greek wind portfolio at an estimated €1 billion+ in lifetime value), 7-year fixed toll BESS agreements with utilities (EGO Energy, a Shell subsidiary, for Rondissone), and 15-year government-backed Capacity Market and RESS contracts. Project-level debt covers up to 80% of capex on 15-year amortization profiles, financed through multi-bank consortia including Bayern LB, Nord/LB, CIBC, Siemens Bank, ABN AMRO, and National Bank of Greece, with the EU Recovery & Resilience Fund as a co-financing source for the Greek portfolio.
The company is backed by 547 Energy, the clean energy investment platform of Houston-based Quantum Capital Group, which committed $250 million of equity in April 2022. The leadership team is led by CEO Andy Kinsella (former CEO of Mainstream Renewable Power, sold to Aker Horizons) and CFO Manus O'Donnell, with collective experience spanning 45 GW+ developed, €5 billion+ in project finance raised, and 3.6 GW of contracted corporate and utility offtake. The company is reportedly exploring a sale with Rothschild managing the process.
Aer Soleir firmographics
Firmographics- Name
- Aer Soleir
- Legal name
- Aer Soléir
- Website
- https://aersoleir.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Aer Soléir is a Dublin-headquartered European renewable energy developer founded in 2021, building utility-scale onshore wind, solar PV, and battery storage projects across Greece, Italy, Ireland, Spain, and Portugal, serving corporate offtakers (e.g., Amazon), utilities (e.g., Shell/EGO Energy), and government energy authorities via long-term PPAs, tolling agreements, and auction-backed contracts.
- Ownership category
- akta.pro rank
Aer Soleir industry classification
Industry- Product category
- Utility-Scale Renewable Energy
- NAICS
- Wind Electric Power Generation (221115), Electric Power Generation (22111)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)
Keywords
Where Aer Soleir is headquartered
LocationHeadquarters
- HQ city
- Dublin
- HQ country
- Ireland
- HQ region
- Europe
Offices2 records
Markets served
Aer Soleir business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Fixed Toll Agreement Revenue: Aer Soleir earns fixed annual payments from EGO Energy (Shell subsidiary) under a 7-year fixed toll agreement for the Rondissone BESS asset. This, combined with the Capacity Market Contract, secures 100% of the asset's revenue for the first seven years of its operational life.
- Power Purchase Agreements (PPAs): Aer Soleir enters into long-term Power Purchase Agreements with corporate buyers (e.g., Amazon for its Greek wind farms) and utilities. These agreements provide revenue certainty over 10-15 year contract terms, enabling project financing.
- Capacity Market Contracts: Aer Soleir's Rondissone BESS project won a 15-year Capacity Market Contract with the Italian Government in Q1 2025 auction at €47,000/MW per year, securing over €115M in revenues over the contract tenor. Under this contract, the project provides flexible capacity to support the Italian power grid in exchange for fixed annual payments.
- Renewable Energy Support Scheme (RESS): Aer Soleir's Irish solar projects (Grangeford 48MW, Cuilmore 40MW) won in Ireland's RESS 4 auction, securing guaranteed prices for electricity to support project financing.
- Project Finance (Debt): Aer Soleir raises senior debt facilities covering up to 80% of capex on a long-term, 15-year amortization profile, provided by a consortium of banks including Bayern LB, Nord/LB, CIBC, Siemens Financial Services through Siemens Bank, and ABN AMRO.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Italian Capacity Market Contract - 15-year fixed payment at €47,000/MW per year |
| Subscription | Annual | Fixed Toll BESS Agreement with EGO Energy (Shell subsidiary) - 7-year term |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Aer Soleir product offering
Product offeringCore offering
Aer Soleir develops, finances, constructs, and operates utility-scale onshore wind, solar PV, and battery energy storage system (BESS) projects across European markets including Greece, Italy, Ireland, Spain, and Portugal. The company operates a resource-lite business model using Development Services Agreements with local partners for early-stage development while retaining in-house expertise in procurement, contracting, project finance, and power offtake. It manages a 2.2 GW active development pipeline and secures long-term revenue through Power Purchase Agreements, Capacity Market Contracts, and fixed toll agreements with corporate buyers, utilities, and governments.
Product overview
Aer Soleir is a European renewable energy development company focused on utility-scale onshore wind, solar PV, and battery energy storage (BESS) projects. Headquartered in Dublin, Ireland, the company operates a resource-lite business model utilizing development partnership agreements with local developers while retaining oversight of financing, procurement, contracting, and power offtake. The core product portfolio consists of three main technology streams: Onshore Wind Projects (including the flagship Vermio wind farms in Greece and Italian acquisitions), Solar PV Projects (including RESS 4 winners in Ireland and Italian solar developments), and Battery Energy Storage Projects (led by the flagship 250 MW/1 GWh Rondissone project in Italy, the largest BESS under construction in the country). The company manages a 2.2 GW active development pipeline across Greece, Italy, Ireland, Spain, and Portugal, with 417 MW contracted in advanced-stage development.
Differentiator
Problem solved
Functional benefit
Products and services
- Onshore Wind Projects
Quantifiable outcome
- 2.2 GW active development pipeline across 5 European markets
- +5 more outcomes
Companies that use Aer Soleir
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Aer Soleir technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Aer Soleir partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered major, core and minor.
- Trina StoragemajorTrina Storage and Aer Soleir launched the largest battery energy storage system (BESS) project in Italy - the Rondissone project - with a power output of 250 MW and a capacity of 1 GWh, located in Piedmont. The project won the Italian Capacity Market auction for 2027 and is part of Trina Storage's broader strategic expansion in Europe.
- EGO Energy (Shell Italia Holding S.P.A.)coreAer Soleir entered into a landmark fixed toll agreement with EGO Energy, a direct subsidiary of Shell Italia Holding S.P.A. Under the agreement, EGO Energy trades and operates the 250 MW / 1 GWh Rondissone BESS asset as part of its renewable energy portfolio, making fixed annual payments to Aer Soleir. This is among the largest BESS offtake deals completed in Europe to date, securing 100% of the asset's revenue for the first seven years of its operational life.
- AmazoncoreAmazon invested in Aer Soleir's three new utility-scale wind farms in Greece (Vermio, Mesokorfi, Koukouras), signing four Power Purchase Agreements. Amazon's investment is the company's largest renewable energy deal in Greece to date, with construction already started and power generation expected in 2026. The wind farms will generate enough carbon-free energy to power nearly 200,000 Greek homes annually.
- EntekamajorEnteka is Aer Soleir's local development partner in Greece, contributing to the development of the Greek wind farm portfolio (Vermio, Mesokorfi, Koukouras). Aer Soleir invests more than €500 million in wind projects across Greece with support from its local partner Enteka.
- Tartessos Power DevelopmentmajorAer Soleir and Tartessos Power Development signed a development services agreement covering the co-development of a hybrid project of over 130 MW in the Andalucía region of Spain. Tartessos is a Spanish-based developer with a strong presence across Spain and a robust greenfield renewable energy development portfolio with a 25-year track record. This is Aer Soleir's first investment in the Spanish market and its first hybrid project.
- Altea Green Power S.p.A.majorAer Soleir and Altea Green Power S.p.A. (an Italian company based in Turin) signed a co-development agreement to jointly develop approximately 300 MW of solar photovoltaic projects in Italy, including agrivoltaic projects. This was Altea's second collaboration with Aer Soleir following a co-development contract on BESS storage plants for over 510MW signed on July 1st, 2022.
- Valleverde Energia SrlmajorAer Soleir and Valleverde Energia signed a co-development agreement to realise up to 260 MW of onshore wind projects split across five locations in Italy. Valleverde is an integrated engineering services company involved in the development, construction, and operation of renewable energy plants with a strong greenfield wind energy development pipeline.
- NRG+majorAer Soleir partnered with NRG+ to acquire and develop the Serracapriola 50MW solar photovoltaic project in Southern Italy from Horizonfirm SRL. NRG+ is responsible for developing the project using up-to-date technologies and agrivoltaics, enabling simultaneous use of land for solar power generation and agriculture.
- Horizonfirm SRLminorHorizonfirm SRL sold the Serracapriola solar photovoltaic development project in Southern Italy to Aer Soleir. Once fully developed, the project will have an installed capacity of 50 MW, enough to power up to 2,000 homes. Horizonfirm is an active player in the Italian photovoltaic sector with 900 MW in development.
- Delta LavorimajorDelta Lavori sold the Riccia and Sant'Elia windfarms in the Molise Region of Southern Italy to Aer Soleir. The fully developed projects total approximately 200 MW when they go into production, generating enough power to supply up to 50,000 homes. This was Aer Soleir's first acquisition in Italy.
- ZelestraminorZelestra is referenced as a developer that completed private offtake transactions (tolling agreements) in Italy's nascent BESS offtake market, alongside Aer Soleir and Sunprime, with utilities Shell, BKW, and Engie respectively.
- SunprimeminorSunprime is referenced as a developer that completed private offtake transactions (tolling agreements) in Italy's nascent BESS offtake market, alongside Aer Soleir and Zelestra, with utilities Shell, BKW, and Engie respectively.
Scale indicators18 records
Recent moves7 records
Expansion highlights6 records
Aer Soleir competitors and assessment
Company assessmentDirect peers
- Mainstream Renewable Power: Ireland-headquartered utility-scale wind and solar developer acquired by Aker Horizons in 2021. Direct peer given overlapping technology (wind/solar), European footprint, and the fact that Aer Soleir's CEO Andy Kinsella was formerly Mainstream's CEO.
- Zelestra: Multi-technology European renewable IPP/developer (formerly Solarpack). Explicitly cited in source material as one of three developers (alongside Aer Soleir and Sunprime) that closed early BESS tolling deals in Italy with Shell, BKW, and Engie, making it the most directly comparable Italian BESS peer.
- Sunprime: European solar and storage IPP/developer. Cited alongside Aer Soleir and Zelestra as having completed early private BESS offtake transactions in Italy, indicating a closely comparable business model and counterparty universe.
- Lightsource bp: bp-owned utility-scale solar and storage developer operating across Europe, the US, and Australia. Direct peer in utility-scale PV and BESS development with corporate-PPA offtake structures very similar to Aer Soleir's Amazon arrangement.
- European Energy: Danish developer, owner and operator of utility-scale wind, solar, and Power-to-X projects across Europe and globally. Comparable in multi-technology European IPP/developer positioning and project-finance approach.
- Voltalia: French-listed utility-scale wind, solar, and storage IPP/developer with operations across Europe, Latin America, and Africa. Highly comparable multi-technology European renewables developer model.
- Encavis: German-listed operator and developer of utility-scale solar and onshore wind parks across Europe. Comparable as a publicly-listed European renewable IPP pursuing contracted-revenue strategies similar to Aer Soleir's PPA-plus-capacity-market model.
Broad incumbents
- Aker Horizons / Aker Renewables Norway: Parent of Mainstream Renewable Power and a broader Norwegian-listed renewables and green-tech platform. Comparable as a larger, well-capitalized European renewables developer with deeper resources than Aer Soleir.
- Enel Green Power: Italian-headquartered global renewables IPP and part of Enel Group. Operates extensively in Italy (Aer Soleir's most advanced market) across wind, solar, and storage, providing the dominant incumbent benchmark for project economics and capacity-market participation.
- EDP Renováveis (EDPR): Portugal-headquartered global wind and solar IPP with major Iberian and European presence. Comparable as a broad incumbent in Iberian renewables (Aer Soleir is active in Spain/Portugal) and as a benchmark for utility-scale renewables platforms.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Aer Soleir social profiles
Digital presenceAer Soleir compliance and trust
Trust signalCompliance1 record
Aer Soleir financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aer Soleir leadership team
Management profileNumber of profiles
Profiles6 records
Aer Soleir funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aer Soleir M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aer Soleir
What does Aer Soleir do?
Aer Soleir develops, finances, constructs, and operates utility-scale onshore wind, solar PV, and battery energy storage system (BESS) projects across European markets including Greece, Italy, Ireland, Spain, and Portugal. The company operates a resource-lite business model using Development Services Agreements with local partners for early-stage development while retaining in-house expertise in procurement, contracting, project finance, and power offtake. It manages a 2.2 GW active development pipeline and secures long-term revenue through Power Purchase Agreements, Capacity Market Contracts, and fixed toll agreements with corporate buyers, utilities, and governments.
Is Aer Soleir a public or private company?
Aer Soleir is a private company. It is classified as private equity controlled and is currently operating.
When was Aer Soleir founded?
Aer Soleir was founded in 2021. It employs 11 to 50 people.
Where is Aer Soleir based?
Aer Soleir is headquartered in Dublin, Ireland, in the Europe region.
How does Aer Soleir make money?
Five revenue lines are on record. Fixed Toll Agreement Revenue is the primary driver. The others are power Purchase Agreements (PPAs), capacity Market Contracts, renewable Energy Support Scheme (RESS) and project Finance (Debt).
Who are Aer Soleir's main competitors?
Direct peers on record are Mainstream Renewable Power, Zelestra, Sunprime, Lightsource bp, European Energy, Voltalia and Encavis. Broad incumbents are Aker Horizons / Aker Renewables Norway, Enel Green Power and EDP Renováveis (EDPR).
Does Aer Soleir have an API?
No public API is recorded for Aer Soleir.
What industry is Aer Soleir in?
Aer Soleir's product category is Utility-Scale Renewable Energy. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAMAAAG, Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence). Its NAICS code is 221115.