Clean energy developer Low Carbon to build 75MW of new solar projects
Solar plants planned for Buckinghamshire, Derbyshire, and Essex hailed as an ‘important addition’ to developer’s growing portfolio
Renewables developer Low Carbon has announced it is to build three large-scale solar farms in England using a multi-bank financing facility from NatWest, Lloyds Bank, and AIB.
The company said the plants, which have a combined capacity of more than 75MW are to be funded through the new financing facility, which was set up in September with the aim of supporting 1GW of new renewable energy capacity.
Work on the 23.4GW Fox Covert Solar Farm in Buckinghamshire is due to commence immediately, while work on the other two sites – the 28.8MW Inkersall Road Solar Farm in Derbyshire an the 23MW St Clere’s Solar Farm in Essex – will start next year, according to the update.
Roy Bedlow, CEO and founder of Low Carbon, said the rapid creation of renewable energy capacity would help protect homes and businesses from soaring energy prices. “Only by accelerating the rollout of clean, affordable energy can we fully decarbonise and achieve our shared climate goals,” he said. “Today’s announcement also marks an important step towards Low Carbon’s own strategic targets of net zero and 20GW of new renewable energy capacity by 2030.”
Low Carbon said the projects were “an important addition” to its growing project portfolio in the UK, Europe and North America and would help avoid approximately 16,000 tonnes of CO2e emissions annually.
Bouygues Energies & Services will deliver the design an build of all three projects, according to the update.
The announcement comes as the UK solar farm sector continues to face an uncertain policy environment, with Defra undertaking a review of planning rules that could restrict the development of new projects on agricultural land.
The industry has warned the proposals would seriously restrict new project development while having a negligible impact on food security. Trade group Solar Energy UK has said the mooted reforms could jeopardise billions of pounds of planned investment, drive up energy bills, and undermine energy security.
Source BusinessGreenDecember 6, 2022