Gresham House has acquired a fourth UK solar farm as part of a partnership with renewable energy firm Anesco.
The specialist alternative asset manager said it has acquired the 20MW Beavor Grange project located near Axminster in Devon.
Work on the Beavor Grange project is due to begin in early 2023 and is expected to take around 34 weeks to complete, Gresham House said.
The latest deal is the fourth transaction under the two firm’s 200MW ground mount three-year solar development and construction partnership valued in excess of £100m.
The Beavor Grange transaction follows the acquisition of two 20MW solar farms located in Gloucestershire town Cirencester and Alfreton, in Derbyshire, earlier this year, as well as 50MW Low Farm in Lincolnshire last August, Gresham House said.
Wayne Cranstone, investment director at Gresham House, said: “It is great to acquire this latest project from Anesco. The site has been sensitively developed with attention to biodiversity enhancement as well as ensuring quality construction and efficient operation.
”We continue to support new build solar to increase the UK’s drive towards self-sufficiency in renewable energy, and so we were particularly delighted to have been awarded three contracts for difference on three of the solar parks under this partnership in the government’s recent CFD auction round, AR4.”
Sarah Webb, business development director at Anesco, said: “Through our partnership with Gresham House, we are delighted to be supporting the UK’s transition to cleaner, greener energy.
“Beavor Grange is the fourth large-scale solar project we have progressed to the investment-ready stage for Gresham House, and we will be continuing to add to that total very soon.”
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