Gresham House has bought a 12MW UK solar farm from renewables developer Anesco for an undisclosed sum.
The specialist alternative asset manager said it has acquired the battery-ready Bumpers Farm for its FIM Solar Distribution fund.
The site is expected to begin generating solar power in March 2020.
Wayne Cranstone, investment director, Gresham House, said: “We continue to actively expand our ground-mounted solar and battery storage portfolio, to meet the increasing demand for reliable renewable power from energy consumers and investors looking for attractive income.
“As a battery-ready site, Bumpers has the potential to capture higher energy prices for energy during periods of low electricity demand, further increasing potential returns for our investors.”
Lily Coles, Anesco commercial director, said: “The pace of decarbonisation is accelerating, and we are proud to be playing our part through relationships with experienced renewables investors like Gresham House.
“Ground-mounted solar is an established technology and mainstream infrastructure investment that delivers attractive returns, with low operational risk and consistent, predictable cashflow.”
Steve Shine, Anesco executive chairman, said: “Both solar and battery storage technology have an important role to play in the UK’s transition to a net-zero economy.”
