BOOM Power has secured a co-investment partnership with Topsun for the Low Farm Solar Farm in the UK.
Spanning 210 acres, the 49.9MW project is located north of Flockton and east of Overton near Wakefield, West Yorkshire.
As an equity holder, BOOM Power will manage the construction of the solar farm, which is scheduled to begin this year, with commissioning expected in 2026.
Topsun, partly owned by the SK Group, a South Korean multinational conglomerate, is making its first renewable infrastructure acquisition in the UK through this partnership.
The company is planning to expand its portfolio and recently established a UK subsidiary, Topsun Power Ltd.
According to BOOM Power, Low Farm Solar Farm has been designed to integrate harmoniously with the local landscape and cultural heritage, responding to feedback from the community.
The company said the project will also enhance biodiversity, achieving a 92% net gain in habitat units and a 32% net gain in hedgerow units.
The Low Farm Solar Farm was awarded 49.9MW of capacity in the UK’s Contract for Difference (CfD) scheme allocation round 6 (AR6), in September 2024.
The project secured a solar PV strike price of £50.07 per megawatt-hour (MWh).
BOOM Power founder Mark Hogan said: “The structure of this acquisition has been designed to ensure BOOM’s long-term investment in the project.
“Partnering with Topsun has allowed both parties to achieve their respective company objectives while advancing the project to the next stage of construction.
“This is a fantastic project to welcome Topsun to the UK, and I have no doubt their journey here will be successful.
“We look forward to continuing our partnership with Topsun on the Low Farm project and other BOOM projects in development as we work towards commercial operation and contribute to the UK’s journey towards a net-zero energy future.”
Topsun chief executive Jeong Taek Yoon said: “We are delighted to have signed this agreement and to be partnering with BOOM Power on the financing and construction of the Low Farm project.
“As Topsun’s first investment in the UK, this marks a significant milestone for our company.
“With our strong focus on renewable energy and extensive experience in developing and building solar projects, we believe there are many synergies in working with an established company like BOOM Power to enter and grow within the UK renewable energy market.”