German utility RWE’s trading arm has bought its first solar project in the UK.
The ground mounted 37MW solar project to be built at Kencot Hill Farm, a former wartime airbase around 20 miles west of Oxford, is hoped will be one of the largest in the UK.
RWE Supply & Trading said UK-based arm of Conergy will take care of the engineering, procurement and construction of the solar farm.
It will install 144,000 panels which will generate around 36 million kWh of electricity in its first full year of operation – equivalent to powering 10,000 households – and cut carbon emissions by 16,000 tonnes a year.
Once built, RWE will sell the solar farm to Foresight Solar Fund Limited – managed by Foresight Group, a £1 billion UK based infrastructure asset manager.
Stefan Judisch, CEO of RWE Supply & Trading: “Utilising our project development, procurement and structuring skills, including expertise from RWE Innogy, we will deliver to Foresight a substantial, fully commissioned and ROC accredited solar PV park.
“RWE aims in future to repeat this structure, attracting additional investors and thus helping the UK and other European governments to deliver their CO2 reduction and renewables targets.”