Irish renewable energy investor NTR Plc, has announced the acquisition of the 70MWp Medebridge solar farm in Essex, bringing its total UK solar plants to almost 170MW of installed capacity.
The large-scale farm, previously managed by REG Power Management (RPM) and other shareholders, had already gained full planning consent, land agreements and grid connections, making it ready to build.
NTR will install 540W bi-facial solar panels due to their increased efficiency rate, to boost output density and optimisation of energy yields per square meter. Using this technology, NTR has said that Medebridge will have 71GWh of renewable power generation capacity.
“We are delighted to work with the RPM team again to acquire Medebridge as part of NTR’s growing portfolio of European renewable energy projects under management,” said chief investment officer at NTR, Anthony Doherty.
“Given its scale and close proximity to London, Medebridge is a uniquely attractive solar project that can be built relatively quickly and meet the urgent needs of corporates seeking clean power alternatives.”
The announcement follows NTR’s acquisition of RPM’s 58.8MWp solar farm at Ockendon this September.
NTR is expanding its solar portfolio beyond the UK too, with recent acquisitions including a 54MW co-located solar and storage in Wexford, Ireland, which will source power to the banking firm AIB as per a corporate power purchase agreement signed last month.