Leading UK renewables developer OnPath Energy has agreed the sale of a West Yorkshire solar energy project to Octopus Renewables Infrastructure Trust plc ('ORIT'), a London-listed diversified renewables infrastructure company managed by Octopus Energy Generation. The transaction is subject to closing conditions being met.
OnPath Energy has been working for the last 18 months on the construction of the Barnsdale Solar Park, which sits between Kippax and Allerton Bywater to the east of Leeds and which will be able to generate enough electricity to meet the annual requirements of up to 19,000 family homes.
It was awarded a Contract for Difference (CfD) in the government’s fifth allocation round and is expected to connect to the National Grid via the nearby Ledston Primary electricity sub-station later this year.
The community fund that will be established as part of the Barnsdale Solar Park’s development is expected to benefit from total contributions of approximately £1,000,000 over the life of the project, supporting local community groups, voluntary organisations and environmental projects.
Barnsdale’s detailed ecology and biodiversity commitments will be fulfilled and will see the biggest increase in biodiversity for any renewable energy project within Leeds to date, with its 106% biodiversity net gain being more than ten times the expected outcome for a project of this type.
A UK-based developer with over twenty years’ experience, OnPath Energy is expecting to bring forward several new development proposals in England in the coming months and is also exploring a range of potential new project location across England, Scotland and Wales as it works towards becoming the UK’s leading renewable energy developer.
'Both acquisitions and sales are a critical part of our growth strategy, proceeds from selling existing assets will be used to advance our evolving pipeline of renewables projects across the UK. OnPath is continuing to execute its growth strategy with pace and purpose as we work to maximise the social, environmental, economic and energy security benefits we can deliver across our portfolio. Over the coming months, we will be continuing to grow our development pipeline as we bring major new renewable energy projects forward across Great Britain which will add to our plans to invest around one billion pounds in clean energy projects over the next five years,' said Richard Dunkley, CEO at OnPath Energy.
Find out more about Barnsdale Solar Park here.
Source: OnPath Energy
