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UK-based energy company Elgin has acquired a 318 MW solar and storage portfolio. Managed by Foresight Group through a fund, the portfolio is spread across six sites in the UK.
Construction of a few sites is anticipated to begin during Q1-2 of 2025, with all six projects being folded into Elgin’s UK build-out programme.
Four of the six projects, totalling 164 MW, have already achieved contracts via the UK’s Contracts for Difference (CfD) Allocation Round 6 (AR6), which indicates good news for long-term price stability.
Ronan Kilduff, CEO of Elgin, says “Acquiring this portfolio marks a defining moment for Elgin as we solidify our position as an independent power producer.
These projects represent our commitment to delivering tangible, high-quality renewable energy solutions that align with the UK’s net-zero ambitions.”
The acquisition is Elgin’s first since receiving investment from Copenhagen Infrastructure Partners (CIP) in March 2024, marking a milestone in the partnership.
Anouska Morjaria, Associate Investment Director, adds: “We are delighted to have completed the sale of this portfolio… having co-developed the projects since 2020.
The realisation of this investment underscores our commitment to building sustainable energy solutions and we look forward to seeing these projects contribute to the UK’s energy transition in the coming years.” |
