Hive Energy acquires 50% stake in Ethical Power Group

• Collaboration is expected to assist in 2GW of solar projects

Hive Energy has actually gotten 50% of the lasting energy generation firm Ethical Power Group.

The collaboration of Hive Energy and also Ethical Power will help with the delivery of over 2GW of solar projects currently in advancement.

This marks Hive Energy's latest progression towards its mission of developing transformational modification for a cleaner future via the delivery of first-rate solar projects.

Moral Power is among UK's the majority of cutting-edge and ambitious lasting power generation companies.

It has market prominent knowledge in design, purchase and building (EPC) agreements, procedure as well as upkeep (O&M) and property monitoring.

Ethical's O&M Team runs more than 250MW of PV throughout the UK and expects to construct a further 300MW over the following 12 months.

Integrated with Hive Energy's leading position as one of the largest solar designers in the UK, having actually created over 700MW of websites to date, it's partnership with Ethical Power will produce a completely integrated, market-leading renewable energy company.

The mixed position of Hive Energy as well as Ethical Power in the market will certainly allow Hive Energy to select the best assets for advancement & purchase over the next 5 years, it claimed.

The partnership is expected to be a vital market player with involvement in over 2GW of projects in development and also with tenders submitted to construct over 1.2 GW of solar possessions.

The partnership in between Hive and also Ethical purposes to construct a big portfolio of high-quality creating possessions and also safe long term PPAs for its property portfolio.

Hive Energy's CEO Giles Redpath claimed: "Hive Energy believe that renewable resource generation is one of the most crucial thing that is going to occur to our planet over the following 50 years.

" The purchase of Ethical Power is an exciting milestone for Hive to transition a leading renewable resource service and provide first-rate solar projects to sustain the decarbonisation of our energy system and also accelerate the transition to an environment-friendly economic climate."

The procurement further cements Hive Energy and also Ethical Power's connection, as Ethical Power was already appointed as EPC specialist for Hive Energy's projects.

These include 13MW School Farm Solar Park near Rugby currently incomplete and also 44MW Woodington Solar Park in Hampshire where construction will start in 2021.

The acquisition forms part of Hive Energy's 2.8 GW international pipe of solar projects.