Elgin Unloads 100MW Solar to Pennon Group

• Elgin Energy has sold a 100 MW PV portfolio of solar projects in UK to Pennon Group, estimated to require GBP 85 million investment. These projects are projected to generate low-cost electricity and contribute to UK's net-zero emissions by 2050. Also, Elgin sold 521 MW of solar & 70 MW of battery projects in 2020, to be operational by 2025.

Elgin Energy has agreed to sell a 100-MW portfolio of solar projects in the UK to a unit of the Pennon Group Plc. These projects consist of 3 photovoltaic schemes across England and Scotland, and are projected to require an investment of GBP 85 million. The plants are estimated to generate low-cost electricity and contribute to the UK’s goal of net-zero emissions by 2050. Elgin Energy also sold a bundle of 12 projects with 521 MW of solar and 70 MW of battery storage projects in 2020. All of these projects are scheduled to be operational by 2025.

What Benefits Will UK Gain From Elgin Energy's Solar Projects?

• The solar projects will generate electricity at a lower cost than traditional sources of energy, helping to reduce Britain’s overall energy costs.
  
• The projects will help reduce the UK’s carbon emissions, aiding the country’s goal of net-zero emissions by 2050.
  
• The solar projects will create new jobs in the construction and maintenance of the solar plants, providing economic benefits to the region.
  
• The sale will contribute to the economic growth of the UK, as it brings in a large influx of capital investment.
  
• The projects will provide a reliable, renewable power source, helping to secure the UK’s energy supply.
• The solar projects will help increase energy security, as they are not connected to the grid and thus not vulnerable to power outages.