Germany-headquartered solar services provider Greencells Group has firmed its position in the UK market via two contracts with Enray Power.
The Greencells Group will provide engineering, procurement and contruction (EPC) services and operations and maintenance (O&M) for the British energy company’s 68.5MWp solar power plant co-located with a 24MWh battery energy storage system (BESS).
The Camblesforth Solar Farm is Enray Power’s first co-located BESS and PV asset and is sited near Selby in North Yorkshire. Greencells said the integration of the 2-hour duration BESS underlines the EPC firm’s ability to deliver smart, system-based solutions.
It also said that the BESS integration will increase the project’s grid value and long-term performance.
Greencells, which specialises in large-scale solar PV, entered the British market in 2014 and since then has delivered nearly 50 projects with a total installed capacity of over 500MWp. Globally, it has installed capacity of over 3.2GW.
Enray Power CEO Philip Price met with Greencells CEO Fabian Herr at Intersolar Europe to finalise the deal. Herr was appointed CEO in March this year, having previously held the position of chief operating officer at Iqony Solar Energy Solutions (SENS).
Senior debt financing for the Camblesforth PV project was agreed earlier this month with Dutch bank Rabobank, which recently committed finance toward Aukera Energy’s solar development pipeline. The agreement with Rabobank draws upon multiple facilities and will enable the delivery of the project in totality, without third party investment.
Enray was founded in 2020 and is backed by Omnes Capital, a private equity firm dedicated to the energy transition, which is majority owner of the company. Enray Power develops, owns and operates renewable energy assets and is aiming to become a leading independent power producer (IPP) in the UK.
It has a 1.5GW pipeline of advanced stage solar and storage projects. Currently its only project under construction is the Camblesforth Solar Farm.
Enray is also partnered with financial advisors Akereos Capital, which provided debt advisory, bookrunning and structuring services. Akereos also arranged the power purchase agreement (PPA) and BESS optimisation agreements with a “leading multinational organisation”.
The company cannot disclose any further detail on the transactions, Solar Power Portal heard.
