October 22, 2020 Read More →

Foresight Group, Island Green Power to build 700MW of subsidy-free solar in U.K.

PV Tech:

UK solar company Foresight Group is targeting a 700MW pipeline of projects thanks to a joint venture (JV) with developer Island Green Power. Together they will develop five subsidy-free projects, located throughout England and Wales.

Peter Bolton, director, Foresight, said that as a “highly experienced renewable energy investor” it is well positioned for the anticipated second phase of growth in the country’s solar market. “Opportunities for asset optimisation and a continual reduction in capital costs will make unsubsidised solar investment increasingly attractive. Island GP has a strong track record of solar development and continues to develop a high-quality pipeline of new sites.”

In September, Foresight announced another JV, with Elgin Energy for 200MW of UK solar. This will see them target the development of six projects located in England, Wales and Scotland. Foresight has also recently made its maiden move in the Spanish market, thanks to a €20 million deal to acquire a 26.1MW solar project that has a PPA with Shell Energy Europe.

Island Green Power has been developing solar projects for 11 years, expanding beyond the UK to the Irish, Australian and Spanish markets.

Ian Lawrie, the company’s director, said the firm has now developed in excess of 1GW of solar, and is “delighted” to have formed the JV with Foresight to “accelerate our development efforts in the UK”.

[Molly Lempriere]

More: Foresight Group sets its sights on 700MW UK pipeline through JV with Island Green Power

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