Thrive Renewables, a renewable energy investment company, announced the acquisition of the 14 MW Dunmow solar project in Essex, U.K., from PS Renewables, a renewable energy project developer.
The construction of the project is completed, and commercial operation is expected to begin in May.
Fair Play Clean Energy, a joint venture between Thrive Renewables and TopCashback Sustainability, provided the financing for the project. The combined financing totals up to £80 million (~$106.4 million) in capital to fund new clean energy projects in the U.K.
With new project development rights secured, the company’s total capacity is expected to increase from 91.5 MW to 170.1 MW by 2027.
“Solar power has a huge role to play in the fight against the climate emergency. Not only is it one of the cheapest ways to generate electricity today, it’s also one of the quickest to deploy, which means more homegrown, clean power for homes and businesses across the country. Although Thrive has invested in ground mount solar via partners such as Ethical Power, this is the first solar farm that we will own and operate. We’re excited to further diversify our portfolio, drawing value from across the technology mix as we support the U.K.’s transition to a more resilient, sustainable, and secure energy system,” said Monika Paplaczyk, Chief Investment Officer, Thrive Renewables.
“We are pleased to have completed this transaction with Thrive Renewables and to begin a relationship that will undoubtedly support the U.K.’s clean energy ambitions. Our team takes great pride in delivering high-quality, reliable renewable energy projects, and we look forward to working together to accelerate the transition to a low-carbon future,” said Jose Luis Gandia, Managing Director, PS Renewables.
According to Mercom’s Q1 2025 Solar Funding and M&A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
Last week, Innova, a utility-scale renewable energy project developer, announced the sale of the 25 MW Tolldish Hall solar project to ISG Renewables, a joint venture platform between Innova and Schroders Greencoat.
