Investment manager Quinbrook Infrastructure Partners has commenced construction on Cleve Hill, a solar plus battery storage project in the UK.
To be located in Kent, the 373MW solar plus 150MW battery storage project will be completed by the end of 2024 and will be the largest such project in the UK.
Go deeper with GlobalData
Development began when approval was secured from the UK Department for Business, Energy and Industrial Strategy in May 2020.
The project will generate enough clean electricity to power more than 100,000 UK households while avoiding 164,450 tonnes of carbon emissions annually.
During its construction and operational phases, Cleve Hill will support more than 2,300 direct and indirect jobs and will generate £148m ($184.57m) in local socioeconomic benefits.
In July 2022, Quinbrook secured a 15-year contract for difference to support the project’s financing.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company reports that this was the largest contract awarded for a UK solar project as part of the government’s flagship auction scheme, which is expected to lower power prices and boost energy security in the country.
The company will now choose its preferred lenders and finalise debt funding for the project.
Quinbrook co-founder and managing partner Rory Quinlan said: “High energy prices, geopolitical instability and the UK’s ambitious net-zero goals are bringing into focus the critical need to accelerate the building of the next generation of energy transition infrastructure in the UK.
“In our view, large-scale solar and battery storage projects are key to achieving the decarbonisation imperatives of the energy transition the world over, and we are doing our best to create a blueprint for more projects to come here in the UK. Just as importantly, we are committed to doing this in a way that is truly impactful in supporting jobs and delivering a range of tangible benefits to the local community.”
