Gresham House, an asset manager, has acquired the 20 MW Beavor Grange Solar project from Anesco, UK-based energy efficiency and renewable energy firm, as part of a three-year development and construction partnership of 200 MW solar projects.
The Beavor Grange solar project, located near Axminster, Devon, is the fourth site to transact under the 200 MW ground mount solar partnership. It follows the acquisition of two 20 MW solar projects located in Gloucestershire town Cirencester and Alfreton, in Derbyshire, earlier this year, as well as a 50 MW Low project in Lincolnshire last August.
The construction is expected to be completed in early 2023 and will take around 34 weeks. After it is operational, the solar project will be monitored by Anesco’s operations and maintenance team.
Sarah Webb, Business Development Director at Anesco, commented: “Through our partnership with Gresham House, we are delighted to be supporting the UK’s transition to cleaner, greener energy. Beavor Grange is the fourth large-scale solar project we have progressed to the investment-ready stage for Gresham House, and we will be continuing to add to that total very soon.”
Wayne Cranstone, Gresham House Investment Director, said: “It is great to acquire this latest project from Anesco. The site has been sensitively developed with attention to biodiversity enhancement as well as ensuring quality construction and efficient operation. We continue to support new build solar to increase the UK’s drive towards self-sufficiency in renewable energy, and so we were particularly delighted to have been awarded three Contracts for Difference on three of the solar parks under this partnership in the government’s recent CFD auction round, AR4.”
According to Mercom’s 1H and Q2 2022 report, 66 large-scale solar project acquisitions in Q2 2022 compared to 82 transactions in Q1 2022. In July 2022, Cypress Creek Renewables, a project developer and an independent power producer, acquired a 100 MW solar transmission project from Carson Power, a solar and storage developer. The project is in Rochester, New York, U.S., currently in the early stages of development and is expected to be operational by 2026.