The farms will be the first UK projects to receive funding using the business’s multi-bank financing facility from NatWest, Lloyds Bank, and AIB. Announced in September, the facility is targeting 1GW of solar capacity, as part of Low Carbon’s target to create 20 GW of new renewable energy capacity by the end of the decade. The news follows Low Carbon’s recent announcement of four solar farms totalling 53.1 MW entering construction in the Netherlands
Construction at Fox Covert Solar Farm, Buckinghamshire, is due to commence imminently, with an intended capacity of 23.4 MW. At its peak, the site will generate enough clean renewable electricity to power the equivalent of more than 7,300 homes and provide electricity directly to the local distribution network. Work on the other two sites, at the Inkersall Road Solar Farm in Derbyshire and the St Clere’s Solar Farm in Essex, will begin in the early new year. They will have a capacity of 28.8 MW and 23 MW respectively.
With a combined capacity of over 75 MW, the three sites represent an important addition to Low Carbon’s growing project portfolio in the UK, Europe and North America. Once operational, the projects are expected to avoid approximately 16,000 tonnes of CO2e emissions annually, helping decarbonise the energy sector in line with the UK’s net zero ambitions.
The design and build of all three projects will be delivered by Bouygues Energies & Services, a global leader in energy, digital and industrial transformation, and will also be nominated for Bouygues Construction’s TopSite label, a new accreditation recognising exemplary operations at construction sites. TopSite is a recognised indicator of all areas of Corporate Social Responsibility (CSR) including health and safety, the environment, human resources, social engagement, quality and customer satisfaction.
“Climate change is a shared global challenge, in which the energy sector plays a major part” said Roy Bedlow, Chief Executive and Founder at Low Carbon, commenting on the announcement. “Amidst soaring energy prices, the rapid creation of new renewable energy capacity is essential to many UK homes and businesses. We are therefore delighted to be announcing the first three of many UK-based projects financed with the help of NatWest, Lloyds Bank and AIB. Only by accelerating the rollout of clean, affordable energy can we fully decarbonise and achieve our shared climate goals. The announcement also marks an important step towards Low Carbon’s own strategic targets of net zero and 20 GW of new renewable energy capacity by 2030.”
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