Close Brothers Energy team and clean energy solutions company Enviromena has reached financial close on the funding of a 70MW English solar farm in Medebridge, Essex.
Project facilities of over £30m will fund the construction and operation of Medebridge Solar Farm that will comprise 104,000 solar panels across 175 acres of low-grade agricultural land. The site is the equivalent of around 70 football pitches and, when completed, will generate enough electricity to power 25,000 homes.
Operating on a global scale, Enviromena develops, builds, owns and operates renewable energy assets and manages over 300MW of renewables projects. The team is currently working on a 3GW-plus pipeline of renewable energy projects in the UK and Italy that will significantly decarbonise electricity networks and reduce emissions.
“Having worked closely with the Enviromena team for a number of years, we’re delighted to have been involved from the outset in financing this large-scale solar development,” said head of sales for the energy team at Close Brothers Richie Kidd.
“Enviromena’s growth ambitions are always inspirational and we look forward to continuing to support them as they look to deliver 500MW of solar power in the UK.”
Enviromena chief executive Chris Marsh added: “Enviromena is committed to leading the transition to a world powered by clean energy by providing safe, affordable, and reliable solutions to support the global drive towards net zero and meet the world’s growing power demands.
“Having experienced first-hand the professionalism of the Close Brothers Energy team, we have forged a strong partnership and we look forward to working closely with them in the coming months and years.”