The L&G NTR Clean Power (Europe) Fund III has secured the Fair Oaks renewable energy park, a solar and battery storage project in Nottinghamshire, England.
NTR said the ready-to-build project comprises 75.4MWp of solar PV and a 49.9MW/99.8MWh battery energy storage system and was developed by Ridge Clean Energy Ltd.
It added that the project has planning consent, a grid connection offer and a Contract for Difference in place, with construction expected to start in 2026 and commercial operations targeted for early 2028.
The fund is a joint partnership between NTR and L&G, with NTR completing the transaction on behalf of the fund and working with Ridge to deliver the project.
Fair Oaks is designed to optimise grid use by capturing and storing excess energy and providing grid services.
“Fair Oaks is particularly attractive as a hybrid solar and BESS asset that can play a critical role in both stabilising the grid and accelerating the transition to reliable, clean energy,” said Anthony Doherty, chief investment officer of NTR.
“We are delighted to have established this relationship with Ridge Clean Energy who take the same sustainable perspective as us in developing quality projects that support Europe’s clean energy transition.”