JBM Solar has completed the sale of two solar schemes in England, totalling 102MW, both co-located with battery energy storage systems, to Vantage RE.
The projects, Eastfields and Bunker’s Hill, have a combined battery capacity of 65MW.
Both projects were awarded Contracts for Difference (CFD) in the most recent Allocation Round 4 and are expected to connect in 2023 and energise in early 2024.
JBM Solar has a pipeline of over 3GW solar and 700MW co-located battery grid-secured.
Vantage RE maintains and manages a large portfolio of renewable energy assets across the UK.
Eastfields is located in Deppers Bridge, Warwickshire, and is designed with single-axis tracking system to optimise the daily generation profile.
Bunkers Hill is located near to Hook in Hampshire.
Across both developments, JBM Solar engaged extensively with the local communities making sure their voices were heard and considered.
Community funds will be created for both sites to support projects in the local communities.
Environmental initiatives for the solar farms include the creation of wildflower meadows; tree and hedgerow planting; and the installation of beehives, leading to biodiversity net gains in excess of 50% across the sites, five times the statutory requirement.
In the recent CFD Allocation Round 4, Eastfields and Bunker’s Hill were two of the eight JBM Solar developed projects that were awarded contracts at a strike price of £45.99 in August 2022.
Brendan O’Brien, director and co-founder of JBM Solar, said: “We are pleased to close the sale of these two projects, demonstrating JBM Solar’s ability to deliver high quality innovative assets with long-term financial and sustainability benefits.
“We are also delighted to contribute to Vantage RE’s long-term renewable energy aspirations.
“At a time when energy prices are in the spotlight, we’re proud to see these projects supply clean affordable energy through the Contracts for Difference scheme and deliver efficiencies to a constrained network through the DC-coupling of the co-located battery storage on site.”
JBM Solar was advised by Jones Lang LaSalle (financial) and TLT (legal) on the sale of the projects.