L&G NTR Clean Power (Europe) Fund has completed the financing of three Spanish solar projects in partnership with NordLB. As the sole debt provider and hedge counterparty, NordLB has provided debt facilities of around €50m with a debt tenor of 18 years. The portfolio, which consists of two sites in Castilla la Mancha and one in Andalucia, are all in construction with the first already exporting power and scheduled to achieve commercial operations this month.                Once fully operational, the developments will have a combined capacity of 115MWp, producing enough clean power to serve 51,424 homes. Power Purchase Agreements have been signed with three parties including Nestle Spain and Nestle Portugal, Huhtamaki and Holaluz which will use 70% of the power generated across the three projects over the next 10 years. In a separate transaction, the fund has also completed the acquisition of Ferme Eolienne Cruscades and Canet, a six-turbine onshore wind project near Narbonne, France. With a capacity of 13.4MW, the site will provide clean energy for over 5500 households and is already under construction, with the fund having acquired the asset from Samfi Energy, subsidiary company of Samfi Invest group. NTR chief investment officer Anthony Doherty commented: “This is a substantial financing which we have successfully closed in a more challenging environment, proving that quality clean power projects and a strong sponsor can still attract favourable terms. “We are delighted to continue our strong relationship with NordLB and to have them involved in this project, which is helping to accelerate the energy transition across Europe. Both announcements today are significant milestones for the fund as, together with LGIM, we work hard to deliver new renewable energy installations which play an important role in meeting vital climate goals.”             Credits: renews.biz [Image: Pixabay]

                 The renewable energy arm of BayWa has achieved commercial operations at its Bracks Farm Solar Park in the UK. The project, which is located approximately 2km to the east of Wicken in Cambridgeshire, produces enough clean energy to supply 8000 homes with green, renewable energy per year. The completion of the site brings the total solar capacity installed by BayWa r.e. in the UK to just over 350MWp. Construction on Bracks started in September 2022, and the project was sold to the UK’s Railways Pension Scheme, managed by Railpen, at the end of last year. BayWa r.e. will provide long-term O&M, as well as commercial asset management services for the solar project.                In partnership with Grune Energien Solar, BayWa r.e. has also recently received planning consent for the development of the Clump Farm and Hill Farm solar projects in Leicestershire. With installed solar capacity of 49.9MWp and 18MWp respectively, these projects will be able to supply up to 22,000 Leicestershire homes with green energy per year in what is a major contribution to both Hinkley and Bosworth Borough Council’s and Blaby District Council’s environmental objectives. Now that consent has been granted, the Clump Farm and Hill Farm solar projects should commence construction in 2025. “Solar farms are essential to achieve the UK’s goal of net zero carbon by 2050 and ensure homes and businesses can be powered by clean, renewable and domestically generated energy, said BayWa r.e. UK managing director John Milligan. “The successful commercial operation of Bracks solar farm, as well as the approvals for Clump Farm Solar and Hill Farm Solar are testament to the hard work put in by our team. With a development pipeline of 1.9GW across solar, wind and storage projects, we are looking forward to delivering more projects over the coming years.”           Credits: renews.biz [Image: Pixabay]  

                 Developer Low Carbon has announced it is revising its latest UK solar project following an early (non-statutory) consultation. Beacon Fen South, which was planned for land around Helpringham and Burton Pedwardine near Sleaford, has been removed from Beacon Fen Energy Park because the interaction with the proposed Anglian Water Lincolnshire reservoir could have meant delays to the overall delivery of the project. The company said it will still be progressing with Beacon Fen North, which will now simply be referred to as Beacon Fen Energy Park. This lies north of Heckington and would connect into Bicker Fen substation. “Following the initial early (non-statutory) consultation and the community and stakeholder feedback received, we are withdrawing Beacon Fen South from our Development Consent Order (DCO) application and will be progressing with solar and battery storage development at Beacon Fen North only,” said Low Carbon director James Hartley-Bond. “Renewable energy is urgently needed to fully decarbonise the UK’s electricity system by 2035 and we believe Beacon Fen Energy Park will contribute significantly to this need since it could be developed as soon as 2029. Proceeding with Beacon Fen South would have put this delivery at risk.                We felt it is important to communicate this decision in a timely manner to provide clarity to communities in the vicinity of the proposed reservoir.” Beacon Fen Energy Park was announced in March this year, with more than 200 people engaging with the consultation held in May and June. A wide variety of feedback was received, including concerns over how the energy park could work with another proposed nationally significant infrastructure project – a reservoir proposed by Anglian Water on the same land identified for Beacon Fen South. Beacon Fen Energy Park could commence construction in 2026, but due to the scale and nature of the reservoir, its DCO application will not be determined by then, which could have caused delays to Beacon Fen Energy. Mr Hartley-Bond said a newsletter will be circulated in August with further information about the revisions to the project. The timeline for the DCO application is expected to be similar but will also be described further in this update. He added: “We still expect to hold our more detailed statutory consultation in winter 2023/24 including our Preliminary Environmental Information Report. All dates and events will be advertised ahead of time. To stay up to date sign up to our mailing list at https://www.beaconfenenergypark.co.uk/contact/.” The amount of electricity Beacon Fen Energy Park could generate exceeds 50MW and is therefore classified as a Nationally Significant Infrastructure Project. This requires Beacon Fen Energy Park to submit an application for a DCO to the Planning Inspectorate. The development process for the project through to submission and then examination of the DCO application is expected to take until 2025. Subject to achieving development consent, construction would start in 2026.           Credits: renews.biz [Image: Beacon Fen Energy Park]

                 Renantis has launched its third crowdfunding campaign to support the construction of the La Manganizza agrivoltaic plant in Italy. The project is located in Manzano, in the province of Udine (Friuli Venezia Giulia region) and the campaign offers an energy investment opportunity for those in the local community. The project, with work commencing in autumn 2023, will be developed on a 15-hectare site and will have an installed capacity of 8.16MW, with total investment estimated at about €8m. The technology used for energy production consists of over 14,000 double-sided solar modules on single-axis trackers and this technology will allow for higher output and reduced visual impact compared to traditional modules. The area will host multiple beehives to produce honey and related products, a probiotic meadow and numerous region-native plants, including hedges and melliferous trees.                Using the land in this way will encourage the presence of bees and ensure that the land remains visibly in keeping with the landscape. The apiary will be managed by a local company that will exclusively enjoy the fruits of the agricultural activities. More than 85% of the plot will remain cultivable, including the part occupied by the hedges and the lawn under and between the panels. This area will form an ecological oasis, providing the right environment for bees to play their important role in maintaining the natural ecosystem. The restoration of natural habitats such as rows, hedges and meadows makes it possible to mitigate further decline of the bee population, which is one of the goals of the revision of the EU Pollinators Initiative presented by the EU Commission at the beginning of 2023. Crowdfunding provides a remunerated loan guaranteed by Renantis. Individuals can participate with amounts between €200 and €10,000, and with an interest rate of 6.5% per year, for three years, for residents of Manzano and neighbouring municipalities, while residents in the Friuli Venezia Giulia region will have a 5.5% remuneration rate. The campaign follows the success of the lending crowdfuding initiative for the Terzo di Aquileia plant, in the province of Udine (Friuli Venezia Giulia region), which closed in May. The campaign for the project with a total planned investment of €30m attracted 58 investors and more than €150,000 was collected, exceeding the target set by Renantis by 50%.           Credits: renews.biz [Image: Renantis]

                 Corab and Kelfield signed a letter of intent paving the way for their cooperation on a 1GW agri-photovoltaic project in Poland. The project will be sited on agricultural land in the West Pomeranian and Pomeranian provinces. Corab will contribute its know-how and technological solutions dedicated to the agri-PV segment, while Kelfield will be responsible for engineering works and handling the investment process, including acquisition of investors and obtaining of necessary permits. The value of components alone used in its completion is around €68m.                The project will use Corab’s WS-A10 fence-shaped vertical structures. The installations will be located on agricultural land which is very difficult to cultivate or completely unsuitable for that purpose and used as meadows and pastures. Freestanding agri-PV systems of this type occupy about 1% of the field area, so they work well even on small farms. The remaining area can be used according to its primary purpose. Piotr Markowski, President of the Management Board of Corab, said: “We hope that the first gigawatt project will be followed by others, which will allow us to use the potential of this technology also for classic agricultural crops, of which we have plenty in our country. “However, this will require introduction of several amendments to the law, which are necessary to make this type of activity in Poland both feasible and profitable.”           Credits: renews.biz[ Image: Corab]

                 Germany-based Goldbeck Solar Group has announced the financial close of a €44m HoldCo debt facility with French fund manager RGreen Invest. The funds, provided by RGreen Invest’s  short-term senior debt fund, Infrabridge III, will be used to support the construction of four ground-mounted solar PV projects. These sites are strategically located in Canada and Chile, with a combined capacity of 69MWp and 24MWp respectively. The Canadian projects, situated in Alberta, boast capacities of 61MWp and 8MWp respectively and form part of the joint venture between Goldbeck Solar and Pathfinder Clean Energy.                The developments in Chile, located in the Bío-Bío Province, have a capacity of 12MWp each. The Chilean sites are expected to benefit from the Pequeños Medios de Generación Distribuida (PMGD) programme, while the Canadian projects will initially operate on a fully merchant basis, allowing Goldbeck Solar to capitalise on market dynamics. Goldbeck Solar head of finance and investment Olga Kovalchuk said: “We are thrilled to partner with RGreen Invest, a prominent player in the renewable energy finance sector. “This collaboration reinforces our commitment to driving the global transition to sustainable energy systems and will accelerate the realisation of our first solar projects in Canada and Chile.” RGreen Invest head of debt investment Mathilde Ketoff added: “This investment underscores our confidence in experienced global players such as Goldbeck Solar to deliver innovative solar energy solutions across the globe. “While our primary focus lies in funding European projects, our mandate enables us to expand into new countries through strategic partnerships. “Our ultimate goal is to contribute to a sustainable future by harnessing the power of clean and dependable solar energy.”           Credits: renews.biz [Image: Goldbeck Solar]

                 Ib Vogt has entered into an agreement to sell a 98MW solar portfolio in Italy to French solar energy producer Rubis Photosol. It covers 10 photovoltaic and agrivoltaic projects in the Lazio region of Italy and has been 100% funded by Ib Vogt. It has been developed by Ib Vogt and its two joint venture partners, Christoph Drewes Energieberatung and Hans Karl Pichler.                The sites are under development and will be purchased on a one-by-one basis over the next 12 to 18 months as each project reaches ready-to-build (RTB) status. The first two plants to have already reached RTB status represent 25MW of the nearly 100MW portfolio and were acquired in late June. The remaining eight projects are expected to reach RTB over the next year, with the last site reaching that stage by the second quarter of 2024, upon which they will be financed and developed by Rubis Photosol. This transaction represents Ib Vogt’s first sale from a multi-gigawatt portfolio of projects in development throughout Italy. The company has two other permitted projects in the country, comprising over 380MW in solar developments.             Credits: renews.biz [Image:Ib Vogt]

                  European Energy is to sell Mitsui a minority stake in its solar and e-methanol project in Aabenraa, Denmark. Mitsui will acquire a 49% in the 304MW solar plant in Kasso and the connected e-methanol facility European Energy is developing. The e-methanol plant will, when operational in 2024, produce up to 42,000 tons of the fuel annually. “Green hydrogen, e-fuels, and low carbon chemicals are key to decarbonizing hard-to-abate sectors such as shipping, plastic production and aviation,” said European Energy chief executive Knud Erik Andersen.                “By partnering with a significant global player like Mitsui, with an already substantial footprint in the methanol sector, we benefit from their extensive experience. “Signing this deal is a testament that our strategy works, and we look forward to make large-scale production of e-methanol a reality.” Mitsui president and chief executive Kenichi Hori said: “Mitsui will leverage its expertise in chemicals, renewable energy, shipping, and other industries to enhance the competitiveness of this e-methanol facility. “Mitsui will deepen its strategic partnership with European Energy through Kasso and target further collaboration in future business between two companies.”             Credits: renews.biz [Image: European Energy]

                 Atrato Onsite Energy has signed a PPA with OVO Energy for 50MW solar site Project Skeeby in Richmond, Yorkshire.  Skeeby was previously acquired by Atrato in April 2023, and is currently under installation with an expected energisation date of March 2024.                Atrato is expected to supply 49GWh of clean energy per annum to OVO Energy, providing 9,500 tonnes of CO2 emission savings per annum, equivalent to powering 17,000 UK homes or planting 380,000 trees. The PPA will provide the Company with a three-year revenue stream at a set price with fixed annual uplifts for the energy produced by Skeeby. Gurpreet Gujral, managing director of Atrato Partners, the investment adviser to the company, said: “We are delighted to be supplying OVO, one of the largest electricity suppliers in the UK. “As targeted at IPO, we have now built a portfolio of solar PV systems commercialised with a range of PPA maturities that result in an optimum sensitivity to power price movements.”         Credits: renews.biz [Image: Chelsea/Unplash]

                 Sonnedix has launched operations at its 160MW solar photovoltaic plant Sonnedix Meseta de los Andes in Chile. The development is the largest solar PV project in Central Chile and the company’s second largest site worldwide, Sonnedix said. The construction of Sonnedix Meseta de los Andes started in June 2021, covering around 250 hectares within the Valparaíso Region of Chile, in the municipalities of Calle Larga and Los Andes.               During its construction phase, Sonnedix generated 300 local jobs, in line with its commitment to the social and economic development of the communities within which it operates. The plant was completed by April 2023, connecting to the national energy system on 17 February 2023. Chief executive of Sonnedix Axel Thiemann said: “The construction of a project like Sonnedix Meseta de los Andes is testament to our strong ambition to become a key player in the energy transition in Chile, and worldwide. “Last year we initiated our journey to hybridisation in Chile with the acquisition of the Arco Energy platform, including wind projects into our portfolio, and currently we have almost 1.6GW of total renewable development pipeline in the country. “This demonstrates our long-term commitment to the Chilean market, where we set foot eight years ago and we are now a main actor in its energy transition journey.” Sonnedix currently has more than 2.3GW of total capacity in the country, of which almost 700MW represent approximately 30 operational projects.           Credits: renews.biz [Image: Sonnedix]