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: 鈥淲e 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.

鈥淎s 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.鈥�

Lily Coles, Anesco commercial director, said: 鈥淭he pace of decarbonisation is accelerating, and we are proud to be playing our part through relationships with experienced renewables investors like Gresham House.

鈥淕round-mounted solar is an established technology and mainstream infrastructure investment that delivers attractive returns, with low operational risk and consistent, predictable cashflow.鈥�

Steve Shine, Anesco executive chairman, said: 鈥淏oth solar and battery storage technology have an important role to play in the UK鈥檚 transition to a net-zero economy.鈥�

 

Topics