Quinbrook Infrastructure Partners has secured two significant offtake agreements for its 373MW Cleve Hill solar park in Kent, which is to be the UK’s largest solar and battery storage project.
The long-term agreements with Tesco and Shell cover the entire solar power generation capacity of the solar park, which also includes a 150MW battery storage component.
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Cleve Hill solar park is under construction and its operational commencement is set for early 2025.
Quinbrook’s 15-year power purchase agreement (PPA) with Tesco, which covers 65% of the expected solar generation, is the largest solar corporate PPA in the UK.
Leading power and renewables certificate trader Shell has committed to a ten-year route-to-market agreement for the remaining 35% of clean energy capacity.
This follows Quinbrook’s contract for difference secured in July 2022 during the UK’s allocation round 4.
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By GlobalDataBoth agreements provide Quinbrook with long-term, index-linked revenues, offering investors revenue certainty and protection against inflation.
Cleve Hill, which received development consent in May 2020, is projected to supply enough renewable energy to power 102,000 UK homes annually, reducing carbon emissions by more than 142,000t in its first year.
The project also prioritises environmental conservation, aiming for a 65% net gain in biodiversity on-site.
The solar facility has the potential to create 2,300 jobs and generate more than £143m ($186m) in local benefits throughout its lifetime in Kent.
Quinbrook managing director and UK regional lead Keith Gains stated: “The offtake agreements secured with Tesco and Shell are a testament to this landmark renewables project for the UK and represent a significant milestone in delivering long-term inflation-linked revenues for our investors, supporting new construction and jobs.
“Cleve Hill has set new benchmarks for UK solar and helps Quinbrook further its efforts to support the UK’s decarbonisation goals and energy independence through large-scale solar plus battery storage projects.”
Quinbrook first commenced construction on the Cleve Hill project in April 2023.
