Low Carbon has sold a 435MW ready-to-build renewable energy portfolio to TotalEnergies.
The UK portfolio comprises eight solar projects with a capacity of 350MW and two co-located battery energy storage systems worth 85MW.
All projects are at an advanced stage of development and have formed part of Low Carbon’s pipeline of solar, onshore wind and battery projects, which stands at more than 16GW globally.
The projects acquired by TotalEnergies are expected to be operational by 2028 and will produce more than 350GWh per year of renewable electricity, equivalent to the electricity consumption of around 100,000 UK households annually.
Over the next 18 months, Low Carbon is expected to start construction on more than 400MW of additional solar and battery projects.
Founder and chief executive Roy Bedlow said: “We are very pleased to have finalised this agreement with TotalEnergies, who are making an impressive commitment to building renewable infrastructure and sees Low Carbon deliver one of the largest ready-to-build portfolios of solar and battery projects in the UK market.
“Once built, these projects will make a vital contribution to the government’s Clean Power 2030 ambition and reinforce Low Carbon’s track record for developing renewable assets of the highest quality, while supporting the build-out of the rest of our renewables pipeline as we continue to scale as an independent power producer.”
TotalEnergies’ senior vice president of renewables Olivier Jouny said: “We are delighted with the acquisition of these projects from Low Carbon.
“Located in the south of England, they benefit from favourable sunlight and complement our integrated electricity portfolio in the UK, which includes 1.1GW of gross installed offshore wind, 1.3GW of gross combined cycle gas turbine, and more than 600MW of solar projects under development.”