Foresight Group and Island Green Power (GP) have formed a partnership to develop a pipeline of greenfield solar projects across the UK.
The companies have formed the joint venture to develop five projects in England and Wales, with close to 700MW total generating capacity, a venture which supports UK transition to a zero-carbon economy by 2050.
This agreement with Island GP is the second JV Foresight has entered into in as many months, following the announcement in September with Elgin Energy to develop 200MW of solar PV assets across the UK.
Peter Bolton, director, Foresight said opportunities for asset optimisation and a continual reduction in capital costs will make unsubsidised UK solar investment increasingly attractive.
“Island GP has a strong track record of solar development and continues to develop a high-quality pipeline of new sites.
“The joint venture’s five projects will help increase the UK’s proportion of generating capacity from renewable energy sources, as is required by the government’s net-zero targets.”
Ian Lawrie, director of Island GP UK, said: “Having successfully developed in excess of 1GW of solar projects in Australia, UK, Ireland and Spain we are delighted to have formed a joint venture with Foresight that allows us to accelerate our development efforts in the UK.”
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