Enviromena Expands UK Solar Portfolio with Longpasture Acquisition

• Enviromena expands UK solar footprint with Longpasture acquisition, enhancing energy distribution with battery storage and powering 56,000 homes annually by 2027.

Enviromena has acquired the 49.9-MWac Longpasture Solar Farm near Darlington, England, from Bluefield Solar Income Fund and Lightrock Power. The project, backed by a 15-year contract for difference, includes an option for a 39.7-MW battery energy storage system. This acquisition marks Enviromena's third UK solar purchase this summer, following Steeraway and Rock Farm, expanding its portfolio to over 3 GW across the UK and Europe. Once operational, these projects are expected to supply power to over 56,000 homes annually.

The contract for difference ensures revenue stability, but successful execution is crucial for returns. Co-located storage can optimize energy distribution by shifting solar output to evening peaks and providing frequency services. With the UK refining grid management and flexibility markets, integrating batteries from the start is advantageous. While supply chain and permitting conditions are improving, grid works and transformer lead times require careful planning. Enviromena aims to secure EPC slots, optimize the storage option, and engage with the community as construction progresses, targeting a late 2027 energization for Longpasture.

How will Enviromena's acquisition of Longpasture Solar Farm impact its UK energy portfolio?

• Strengthens Enviromena's presence in the UK renewable energy market, enhancing its competitive edge.
  
• Increases Enviromena's total UK solar capacity, contributing to its goal of over 3 GW across the UK and Europe.
  
• Provides a stable revenue stream through the 15-year contract for difference, reducing financial risk.
  
• Enhances energy distribution capabilities with the option for a 39.7-MW battery energy storage system, allowing for better grid management and flexibility.
  
• Positions Enviromena to benefit from the UK's evolving grid management and flexibility markets.
  
• Supports Enviromena's strategy to optimize energy storage solutions, improving energy supply reliability.
  
• Contributes to the UK's renewable energy targets by supplying power to over 56,000 homes annually once operational.
  
• Demonstrates Enviromena's commitment to community engagement and sustainable development practices.
  
• Requires strategic planning to address grid works and transformer lead times, ensuring timely project completion.
• Aligns with Enviromena's broader expansion strategy, following recent acquisitions of Steeraway and Rock Farm.