Gresham House, the specialist alternative asset manager with £7.3bn in assets under management, has acquired a 20MW solar farm from Anesco as part of a three-year development and construction partnership valued in excess of £100mn.
Beavor Grange solar farm, located near Axminster, Devon, is the fourth site to transact under the 200MW ground mount solar partnership. It follows the acquisition of two 20MW solar farms located in Gloucestershire town Cirencester and Alfreton, in Derbyshire, earlier this year, as well as 50MW Low Farm in Lincolnshire last August.
Beavor Grange solar farm will cover an area of just under 28 hectares and will be capable of generating enough clean energy to power about 5,000 homes, while helping to save approximately 4,500 tonnes of carbon emissions annually. The site will have a lifespan of 40 years, after which time it will be returned to its natural state.
Work on site is due to begin in early 2023 and is expected to take around 34 weeks to complete, with all engineering, procurement and construction handled by Anesco. Once operational, the solar farm will be monitored by Anesco’s operations and maintenance team to ensure it continues to operate at optimal efficiency.
Beavor Grange will benefit from an advanced biodiversity plan and significant ecological enhancements designed to support some of the UK’s most at-risk birds and wildlife.
Sarah Webb, Business Development Director at Anesco, commented: “Through our partnership with Gresham House, we are delighted to be supporting the UK’s transition to cleaner, greener energy. Beavor Grange is the fourth large-scale solar project we have progressed to the investment-ready stage for Gresham House, and we will be continuing to add to that total very soon.”
Wayne Cranstone, Gresham House Investment Director, said: “It is great to acquire this latest project from Anesco. The site has been sensitively developed with attention to biodiversity enhancement as well as ensuring quality construction and efficient operation. We continue to support new build solar to increase the UK’s drive towards self-sufficiency in renewable energy, and so we were particularly delighted to have been awarded three Contracts for Difference on three of the solar parks under this partnership in the government’s recent CFD auction round, AR4.”
Anesco is a market leader in renewable energy, managing the development, design, construction, maintenance and market optimisation of renewable energy and energy efficiency projects. The company has constructed more than 100 solar farms, while its operations and management service is monitoring more than 24,000 sites.