Infrastructure and investment manager Foresight Group has formed a joint venture with Elgin Energy to develop a pipeline of greenfield solar farms across the UK totalling 200MW.
The JV said it aims to develop six projects located in England, Wales and Scotland.
Elgin Energy managing director Ronan Kilduff said: “This important partnership with Foresight, a leading player in the UK solar industry, further enhances Elgin Energy’s successful transition into a post-subsidy world – fulfilling our 2020 vision of delivering large-scale, unsubsidised projects to market.”
Foresight director Peter Bolton said: “At Foresight we are pursuing opportunities for our investors that can offer strong returns from de-risked structures.
“We see solar PV enjoying a second phase of growth driven by continuing optimisation of assets and the ongoing reduction in the capital costs.
“The need to meet net-zero targets and the potential reintroduction of government support will further encourage the deployment of utility scale solar.
“Elgin has a strong track record and we look forward to building our relationship into the future.”
Elgin was advised on financial issues by Carntyne, while MKB Law was its legal advisor.
Law firm Osborne Clarke advised Foresight on legal issues.
Foresight currently manages over 150 solar plants with a combined capacity of over 1.4GW around the world, and has 800MW of wind power assets in the UK, France, Spain, Germany and Sweden.