Lynher Energy has acquired rights to build two solar battery farms with a combined capacity of 96MW, and two independent battery facilities, totalling 100MWh, at adjacent sites in the UK.
Lynher Energy is JV between Napier Park Global Capital (Napier Park) and Ethical Power and focuses on developing and managing solar power generation and battery-storage facilities.
Demand for electricity is expected to continue growing, driven in part by increasing electrification of the broader economy.
Meanwhile, demand for energy generated by renewable sources is growing even faster than overall energy demand.
The UK and other European governments have committed to reduce carbon emissions and reach net zero carbon emissions from energy generation by 2050.
Napier Park principal Chris Sparrow said: “This investment helps to close the gap between required energy generation and the investment necessary to achieve net zero carbon emissions aimed at successfully addressing the climate crisis.
“As one of the few vertically integrated solar companies in the UK with capability across the entire project lifecycle, Ethical Power is well-positioned to apply deep industry expertise and skills to design, construct and maintain complex solar projects such as this.
“Napier Park and Ethical Power expect to invest further in these assets, and to fund additional important projects in the UK and in Europe.”