Leading renewable energy consultancy and service provider, Natural Power, has acted as technical advisor to Blackfinch Investments for the acquisition of a new subsidy-free solar farm project in North Wales.
The site, which is located on the Llyn Peninsula, is in advanced stage of development and already has planning consent, a grid connection offer and the option for lease in place to install a 6MW solar farm. It was acquired from Wiltshire based developer Luminous Energy through Blackfinch's renewable energy investment arm, Sedgwick Trading. The continued development of the project is being managed by Luminous Energy.
Hannah Staab, Principal Solar & Energy Storage Consultant at Natural Power, said: "This project is another sign that the UK subsidy-free solar market is picking up, and that even small sites can be viable under the right conditions. It is difficult to see how the UK could meet its 2050 net zero commitment without accelerating deployment of onshore wind and solar, and we were delighted to support Blackfinch in the development of another cheap, clean renewable project."
To support the transaction, Natural Power focussed on optimising the site design and energy production, as well as reviewing planning conditions, leases and grid connection. A site inspection was carried out by Natural Power's planning team to assess constraints for site access, design and construction.
Natural Power's global due diligence team provides services throughout all stages of the transaction cycle, from initial risk assessment and reporting in early transaction stages through to comprehensive reporting for credit-committee or data room presentation at final bid stage or financial close. Find out more here https://www.naturalpower.com/our-services/due-diligence/