The project will be the first interconnector between Ireland and continental Europe once completed.
The proceeds from the sale will be used to support SSE’s growth in its other core businesses.
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The solar project is divided into three phases, which will have a combined capacity of 1.2GW.
The European Commission has approved funding for 168 green projects, aiming to support a circular economy across Europe.
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The facility will be be built with a $190m investment and feature a battery energy storage system.
The deal is part of BluPine’s strategy to have 4GW of installed capacity over the next four to five years.
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The partners will co-own and develop offshore wind farms around the Irish coast.
EDF Renewables and its partners began construction works on the project in September 2019.
The portfolio consists of 15 ground-mounted solar photovoltaic projects.
Asia’s overall power capacity is forecast to see a continuous increase in renewable capacity, reaching 63% in 2035.
The partners plan to build an offshore wind facility with a potential capacity of 5GW in Calavite Passage.
The proposed projects are backed by the EBRD and are due to start coming online from 2026.