Dec 19, 2024

European Energy sells 115MW of solar power in the UK.

European Energy has sold off three solar projects in the UK, collectively boasting a capacity exceeding 115MW.

The sale, which involves an undisclosed buyer, includes the Marksbury Plain, Kincraig, and Vicarage Drove solar projects.

The Marksbury Plain project, situated near Bath in Somerset, is designed to supply solar energy to Asahi Europe & International for producing Asahi beverages in the UK. The company has entered into a multi-year virtual power purchase agreement (PPA) to procure power from this facility.

The Kincraig project, located south of Ellon in Aberdeenshire, Scotland, and the Vicarage Drove project, positioned near Bicker in Lincolnshire, have also finalized multi-year PPAs with a global corporate buyer.

Once fully operational, the solar farms are anticipated to yield an annual output exceeding 120 GWh.

All three projects are at different phases of construction and are slated for grid connection in the first and second quarters of 2025.

"The substantial value generated from these three exemplary projects underscores European Energy’s business model, which involves engagement at every stage of the project lifecycle.

"I take pride in the team we have assembled, capable of concurrently managing the construction of multiple solar farms throughout the UK and aiding in the green transition," remarked Adam Spearey, UK development director for European Energy.

"The United Kingdom has rapidly become a key market for European Energy over just a few years.

"We are dedicated to financing the development of a large pipeline of solar, wind, and energy storage projects based in the UK and have already made investment decisions on the next wave of construction projects, which are set to commence in 2025," stated Jens-Peter Zink, deputy CEO of European Energy.