Q ENERGY, a solar, energy storage, and wind project developer, announced the sale of a 33 MW Whinfield Solar Project near Darlington in Northeast England to AlphaReal, an assets investment manager.
The project, currently under construction, will have around 60,000 ground-mounted solar modules. Once operational, Q Energy expects the Whinfield project to generate clean electricity enough to power over 8,700 households in the U.K.
Martin Kantel, Head of Investment Central Europe at Q ENERGY, said, “We anticipate a continued strong demand for renewable energy projects across Europe and Q ENERGY’s cutting-edge construction solutions. We are currently developing a pipeline of over 15 GW of green energy projects across Europe, which we will realize and connect to the grid in the coming months and years.”
Raza Ali, Investment Director Renewable Infrastructure at AlphaReal, said, “We are pleased to have acquired this greenfield solar asset currently under construction. This acquisition aligns with AlphaReal’s increasing focus to invest in greenfield assets that provide additionality to the U.K. renewable energy sector. AlphaReal follows a diversified investment approach where it primarily invests in onshore wind and ground-mount solar assets, both established renewable technologies that have been deployed at scale.”
According to Mercom’s Q1 2024 Solar Funding and M&A Report, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a quarter-over-quarter comparison, 13.7 GW of solar projects were acquired in Q4 2023.
Earlier this month, Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, announced the sale of two PJM assets, the Gaucho Solar and Nestlewood Solar projects, to Octopus Energy Generation, a renewable energy asset management firm. The two projects collectively will generate 100 MW of renewable energy annually.
