AlphaReal has acquired a fully consented 12MW solar development near Arbroath in Scotland.
The project is an extension to a 5MW operational FiT site that AlphaReal bought in 2022 as part of the Innova Energy portfolio.
Construction is expected to begin shortly with energisation scheduled for 2026.
The scheme secured a Contract for Difference in Allocation Round 6 last year, providing long-term contracted and inflation-linked revenues.
AlphaReal also won three other contracts in AR6 run by the Department for Energy Security and Net Zero.
Once operational, the new facility is expected to generate enough electricity to supply about 4300 homes a year while offsetting around 2400 tonnes of CO2.
Hugh Kennedy, development director at AlphaReal, said: “The addition of this asset enhances the value of the existing site through ongoing operational synergies. It is fully aligned with AlphaReal’s strategy to deploy capital into greenfield renewable energy assets that provide additionality, whilst our investors benefit from a long-term, de-risked income stream.”
Maria Vaggione, associate director, sustainability at AlphaReal, said: “AlphaReal has been operating in the renewable energy sector for over a decade. Greenfield sites such as these form an important part of our renewables strategy, as they provide new renewable energy capacity to the grid, contributing to the UK’s Clean Power by 2030 goal.”