Suffolk solar park forms part of £80m renewables investment

Renewable energy investment firm Low Carbon has announced plans for a 20.9 megawatt (MW) solar park in Suffolk – one of seven new facilities that the firm has now commissioned in 2014.

The total investment is worth £80m and, once built, the seven parks will be able to power 21,000 homes. Low Carbon has announced the plans in partnership with Macquarie Capital.

John Cole, chief investment officer at Low Carbon, said, “Including these seven new solar parks, we have now funded more than 200MW of utility scale solar PV projects in the UK and increased our total to 114MW of solar parks that we currently manage.

“Through the outstanding work of our dedicated investment and asset management teams we are continuing to enhance our reputation for delivering high quality projects on time and on budget.”

Low Carbon’s solar portfolio (click to enlarge)

The seven solar parks are located in Suffolk, Cornwall, Devon, Wiltshire and Pembrokeshire, and will collectively generate 73MW of electricity – enough to satisfy the energy demand of Torquay.

Cole added, “The UK’s energy needs are such that the grid of the 21st century must embrace a range of solutions, with renewable energy taking a larger share. Solar is a credible, proven technology with a stable generation profile.

“We remain long-term investors in the UK renewable energy market and are delighted to be partnering with leading banks including Macquarie to scale up our portfolio of assets to take advantage of this improving backdrop.

The government recently outlined in its new solar strategy to turn factories and car park rooftops in to solar hubs, in order to limit the numbers of huge solar farms.

Photo:  Bernd Sieker via Flickr

Further reading:

Government sets out plans for ‘solar hubs’

Solar panels now on nearly 500,000 rooftops across the UK

Nottingham solar project raises £500,000 in less than a month

Scottish solar industry reaches ‘significant’ 100MW milestone

Renewable electricity share at 15% in 2013 as UK emissions fall 2%