Low Carbon bags funds for 385-MW solar-storage portfolio in UK

UK-based renewable energy company Low Carbon has obtained all needed funds for the construction of a 385-MW portfolio of solar and battery storage projects in its home country.

The financing arrangement will enable building works at the sites to be launched early this year, the British firm said on Tuesday.

Under the plan, Low Carbon will install 290 MW of solar parks that will generate enough electricity to meet the annual consumption of about 85,000 local homes. The plants will be paired with batteries totalling 95 MW.

The projects are part of a 3-GW pipeline of solar photovoltaic (PV) and energy storage schemes across the UK that Low Carbon will execute to back its goal of reaching 20 GW of renewable energy capacity by 2030. In line with this strategy, the company is growing its business both at home and overseas. Last September, it was successful in the UK government’s latest Contract for Difference (CfD) auction, where it secured contracts for 10 solar projects with a combined capacity of over 350 MWp.

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