ISG Renewables, a joint venture (JV) between Innova Renewables and Greencoat UK Solar, has acquired Manor Farm, a 27MW solar farm located near Skegness, Lincolnshire.
The JV took over the project from Innova’s pipeline.
The sale of Manor Farm is part of ISG’s ambition to finance, construct and operate 5GW of renewable energy capacity over the next three to five years, which includes building on the current Innova distribution connected pipeline of 1.5GW across solar and storage.
The JV is expected to make substantial contributions to the UK’s net zero strategy and promote energy security.
Manor Farm is planned to energise later this year, with its development and construction managed by Innova.
This is the second acquisition made by ISG, the first being Carn Nicholas Solar Park, a 10MW solar farm in Wales, which was acquired in April 2023 after construction completed earlier in the year.
Investment director of Innova Daniel Mushin said: “We are delighted to announce our second project with Schroders Greencoat.
“The acquisition of Manor Farm, alongside the further site acquisitions expected in 2023, strengthens our strategic partnership and builds towards our shared ambition of financing and developing 5GW of renewable energy capacity over the next three to five years.”
Investment director at Schroders Greencoat Matt Tingle added: “The acquisition of Manor Farm, and of Carn Nicholas earlier this year, provide a firm foundation on which to deliver on these investment objectives as well as UK Government targets of 70GW of solar by 2035.”
Alongside Manor Farm, Innova currently has over 60 distribution network operator (DNO) and grid connected sites under development in the UK, with a combined solar and storage capacity in excess of 23GW.
Each of these projects will deliver Biodiversity Net Gain, leaving the local habitat for wildlife in a better state than it was before development – as required by law, as well as aligning with Innova’s community and charitable promise.
In parallel to the existing development pipeline, ISG Renewables plans to acquire additional third party-developed projects across the development lifecycle.