Gresham House has acquired a 50MW solar farm from Anesco as part of a £100 million partnership.
The two companies signed their three-year development and construction agreement back in January, which will see them develop a 200MW ground mounted solar PV portfolio in the UK.
Low Farm, located near Skegness, Lincolnshire is the first project to transact as part of the partnership. It covers 60 hectares and received planning permission in March with construction expected to begin next year.
Once completed Low Farm will have a lifespan of 40 years, after which the site will be returned to its natural state. Throughout Anesco will bring in various ecological enhancements that could result in an estimated biodiversity net gain of more than 130%, the company said.
In addition to developing the sites, Anesco will provide all engineering, procurement and construction as well as long-term operations and maintenance.
A second site is “soon to follow” Low Farm, said Sarah Hitchcox, business development director at Anesco.
“Through our partnership, we are proud to be supporting the UK’s transition to net zero, while demonstrating the full lifecycle capabilities we can offer investors, from development through to EPC, maintenance and optimisation.”
Anesco has now constructed more than 100 solar farms, as well as its O&M services monitoring more than 24,000 sites. Recently it announced a shift in its operations, moving from an asset owner to a services company before being acquired in June by private equity firm Ara Partners and technical and commercial services company Aksiom Services Group.
Solar Power Portal caught up Anesco’s CEO Mark Futyan recently to discuss the company’s plans for further growth, and how significant the partnership with Gresham House has been.
It builds on the two companies' long-standing relationship, with Gresham House acquiring Anesco's 12MW Bumpers solar farm in 2020.
The company is “pleased to be acquiring another large scale, sensitively developed solar park from Anesco to add to our portfolio,” said Wayne Cranstone, Gresham House investment director.
“This is the first one under our new partnership with Anesco and it is particularly pleasing to see the environmental benefits the development brings which are important given our focus on environmental, social and governance matters.”