Energy company Elgin has acquired a 318MW portfolio of solar and battery storage assets in the UK.
Elgin has acquired the assets located across six sites from a fund managed by Foresight Group.
As a joint shareholder in the projects’ early development, Foresight’s collaboration with Elgin was essential in advancing the portfolio to its current stage.
All six projects will now form part of the company’s UK build-out programme, with construction on several of the sites expected to commence in the first half of this year.
Four of the projects, totalling 164MW, recently secured contracts in the UK’s latest Contracts for Difference (CfD) Allocation Round 6 (AR6), ensuring long-term price stability.
The acquisition follows Elgin’s investment from Copenhagen Infrastructure Partners (CIP) in March 2024 and represents the company’s first major acquisition since this strategic partnership.
Chief executive officer of Elgin Ronan Kilduff said: “Acquiring this portfolio marks a defining moment for Elgin as we solidify our position as an independent power producer.
“These projects represent our commitment to delivering tangible, high-quality renewable energy solutions that align with the UK’s net-zero ambitions.
“We look forward to seeing these projects come to fruition and playing a key role in the nation’s energy transition.”
Associate investment director at Foresight Anouska Morjaria added: “We are delighted to have completed the sale of this portfolio of solar and storage projects to Elgin, having co-developed the projects since 2020.
“The realisation of this investment underscores our commitment to building sustainable energy solutions and we look forward to seeing these projects contribute to the UK’s energy transition in the coming years.”