NTR plc has announced that it has acquired the 70M Wp Medebridge solar farm from the management team of REG Power Management (RPM) and other shareholders.
Medebridge is a large scale ready to build solar farm in Essex with full planning consent, grid connection and land agreements in place. It is expected to become operational in Q1 2024 and NTR is in talks to arrange a power purchase agreement for the project.
Once operational, Medebridge will supply 71G Wh of renewable power generation capacity, which is the equivalent of providing green power to approximately 25,000 homes, and will offset approximately 13,000 tonnes of CO2.
Using the latest solar technology, NTR will install 540 Watt bi-facial solar panels which are capable of capturing sunlight on both sides of the panel. These panels have a higher efficiency rate, resulting in increased output density and optimisation of energy yields per square metre.
With wind, solar and battery projects located in over 50 locations around Europe, Medebridge will bring total UK solar plants under NTR management to just under 170 MW of installed capacity.
Anthony Doherty, chief investment officer at NTR, commented: ‘We are delighted to work with the RPM team again to acquire Medebridge as part of NTR’s growing portfolio of European renewable energy projects under management. Given its scale and close proximity to London, Medebridge is a uniquely attractive solar project that can be built relatively quickly and meet the urgent needs of corporates seeking clean power alternatives.’
Andrew Whalley, chief executive of RPM, added: ‘We are very pleased to be able to work with NTR again on the acquisition of Medebridge solar from its shareholders. The project will complement the nearby Ockendon Solar Farm which RPM sold to NTR last year. As well as helping to combat the climate emergency and providing the UK with much needed renewable energy, Medebridge Solar will also benefit the local community.’