Colchester-based solar developer Push Energy has secured £1.5 million of funding to construct solar farms across the UK.
The developer claims that it has secured grid connections for around 300MW of sites across the UK, 20MW of which has received planning permission.
The funding round was led by the Low Carbon Innovation Fund (LCIF), a venture capital fund managed by international merchant bank, Turquoise International.
Commenting on the funding, Stuart Bradshaw, CEO at Push Energy, said: “We are very pleased with the funding we have received through the LCIF. The investment will enable us to develop more field-scale solar farms which will help play a substantial role in achieving the UK government’s renewable energy targets.”
Francis Wright, managing director at Turquoise International, added: “Push Energy is a responsible renewable company that seeks solar farm sites by working in partnership with local planners and landowners. The vertical integration allows the business to retain control over the whole process, ensuring complete quality control, and we wish them every success following this latest investment.”
Large-scale solar farm developments in the UK have grown dramatically over the last year, benefiting from stable renewable obligation funding and a decline in costs. According to NPD Solarbuzz, ground-mounted installations accounted for over 90% of new large-scale solar PV added in the UK in 2013.