The Macquarie-owned Green Investment Group (GIG) has set the seal on a joint venture with Enso Energy to develop a gigawatt-scale subsidy-free solar and battery portfolio in the UK.
First projects in “an initial 1GW” in England and Wales are grid-secured and entering the planning approval system, said the companies, which expect the portfolio build-out to be backed by power purchase agreements (PPAs).
“The UK’s solar market holds huge potential to create green jobs and help the UK get closer to its aim of becoming a net zero economy,” said Edward Northam, head of GIG’s European operations. “By combining GIG’s technical and financial capabilities with Enso’s experienced development team, our partnership has the skills and expertise to unlock that potential, bringing low-cost, low-carbon power to communities right across the UK.”
Ian Harding and Andrew King, co-founders of Enso Energy, said: “This partnership brings together two organisations that share the same vision, to dramatically accelerate the delivery of the benefits of low-cost solar energy to communities up and down the country … providing predictably priced power to UK businesses while reducing their carbon footprint.”
The technology for the PV will use state-of-the-art tracking and bifacial solar technology “to ensure that the energy produced per hectare is maximised”, and bolt-on battery storage, for “more flexible output, and to address demand during peak periods, as well as providing auxiliary services and stability to the grid to facilitate increased levels of renewables on the system”.
Enso Energy has developed 1.5GW of PV to date in Britain. GIG, which specialise in structuring and developing corporate PPAs, have supported nearly 7.5GW of renewable projects in the UK.