Schroders Greencoat has acquired a 49.9MW UK solar farm and co-located energy storage project from developer Lightsource bp for an unspecified amount.
Lightsource bp said the sale of the Tiln Farm project near Retford in Nottinghamshire was in line with its long-term growth strategy, enabling the company to continue expanding its investment portfolio and scaling its operations.
As part of the deal, Lightsource bp will also provide asset management, operations and maintenance services for the project.
Declan Keiley, the head of business development for the UK and Ireland at Lightsource bp, said: 鈥淲e鈥檙e proud to have completed our first co-located energy storage project and largest solar project in the UK to date.
鈥淭he Tiln Farm project is a milestone for the company in many ways, and the ongoing partnership with Schroders Greencoat, as the project鈥檚 new owner, underscores Lightsource bp鈥檚 strong credentials as a trusted development partner.鈥�
Matt Tingle, investment director at Schroders Greencoat, said: 鈥淐o-located assets like this have an important role to play in balancing intermittent renewable energy generation, as well as delivering vital grid stability services.
鈥淪haring the same grid connection also helps to optimise increasingly scarce grid capacity as the UK transitions towards net zero.
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