Canadian Solar has sold solar and battery energy storage projects in the UK to Gresham House, specialist alternative asset manager.
The two projects comprise a collocated solar and battery energy storage project in Durham, with 50 MWp solar capacity and 38 MW (or 76 MWh) of battery energy storage, and a standalone solar project in Warwickshire of 28 MWp.
Both parties aim to continue to prioritise collocated renewable projects, where the solar PV and battery energy storage plants are built together and share the same grid connection infrastructure. These projects provide both economic advantages, particularly in the form of shared capital and operating costs.
The project in Durham is Canadian Solar’s first collocated solar PV and battery energy storage project in the UK and it represents the second collocated solar and battery energy storage project acquired by Gresham House.
The projects are subsidy-free, consistent with Canadian Solar’s long pipeline of UK opportunities under development.
Both projects are fully permitted and construction-ready. Canadian Solar will be involved in the projects, being responsible for the long-term operations and maintenance activities.
Gresham House New Energy invests in clean energy projects harnessing battery energy storage, solar and wind technologies. The team has a proven track record in acquiring and managing projects throughout their development, construction and operational phases, with a total capacity of 0.7 GW currently operating in the UK.
Canadian Solar is active in the UK renewables market with a 1.8 GWp PV solar and 4.3 GWh battery energy storage pipeline under development. Canadian Solar also has significant track record in this market, having developed and interconnected to the grid a total capacity of 200 MWp.