Gresham House, the specialist alternative asset manager, has purchased a 12MW battery-ready solar farm from renewables developer Anesco for one of its New Energy funds.
Bumpers straddles the Chiltern Main railway line just west of Princes Risborough and is adjacent to the Ilmer Grid substation, giving it the potential for co-locating battery storage in the future.
The site has commenced construction, with Bumpers expected to begin generating solar power in March 2020. Once operational, it is forecast to produce enough energy to supply 2,800 homes and save 5,000 tonnes of carbon dioxide each year. On completion, the site will benefit from enhanced habitat management measures. These will support local ecology, in particular at-risk bird and bat species, in line with Gresham House’s commitment to sustainable development.
The site was sourced, designed and fully developed by Anesco. It represents the sixth Anesco solar farm and the first subsidy-free Anesco installation acquired by Gresham House. It will be monitored and maintained by Anesco’s operations and maintenance team for the next 25 years, to ensure continued optimal efficiency. Gresham House acquired Bumpers Farm through its fund, FIM Solar Distribution LLP.
Wayne Cranstone, Investment Director, Gresham House, commented: “We are delighted to have bought another well-designed and constructed asset from Anesco, further cementing our longstanding relationship.
“We continue to actively expand our ground-mounted solar and battery storage portfolio, to meet the increasing demand for reliable renewable power from energy consumers and investors looking for attractive income. As a battery-ready site, Bumpers has the potential to capture higher energy prices for energy during periods of low electricity demand, further increasing potential returns for our investors.”
Lily Coles, Anesco Commercial Director, said: “The pace of decarbonisation is accelerating, and we are proud to be playing our part through relationships with experienced renewables investors like Gresham House.
“Ground-mounted solar is an established technology and mainstream infrastructure investment that delivers attractive returns, with low operational risk and consistent, predictable cashflow.”
Steve Shine, Anesco Executive Chairman, added: “Both solar and battery storage technology have an important role to play in the UK’s transition to a net zero economy.”