Queequeg protects financing for 500MW UK solar

• First grid-secured tranche of projects amounting to 200MW is expected to get in planning quickly

New UK solar programmer Queequeg Renewables has secured full equity funding for the first 500MW of its solar pipeline with a joint venture with exclusive equity investment firm Energy Transition Partners (ETP).

The very first grid-secured tranche of projects amounting to 200MW is anticipated to go into planning soon, with the remainder to follow in 2022.

Both firms have formed a strategic collaboration to co-develop and also market ready-to-build ground-mounted solar projects throughout the UK.

Queequeg has a pipe in excess of 1GW.

The ETP-QQR Energy venture will totally fund a portfolio of up to 500MW of solar systems in England, Scotland as well as Wales.

In November, London-based Queequeg Renewables announced it had actually developed a 10-strong team and was developing a 1.3 GW subsidy-free solar pipe ranging in size from 10MW to 50MW.

This deal underpins business strategy as well as will make it possible for the developer to proceed its growth.

ETP is a personal equity business developed in October particularly to purchase utility-scale renewable energy projects worldwide.

The ETP-QQR portfolio forms the bedrock of its initial fund, ETP UK Solar Fund 1, aimed entirely at UK solar plans.

Rodolfo Bigolin (visualized), handling partner of ETP, said: "Queequeg Renewables has a very strong track record, whilst the UK solar market uses a clear governing atmosphere and also a dedication towards raised eco-friendly generation.

" This offers us great confidence in our critical collaboration and also our ability to provide a solar portfolio with great investor returns."

Daniele Stiglitz, managing director of Queequeg Renewables, added: "For every system, we aim to establish solid as well as genuine relationships with the areas in which we run, so that local people have the ability to share in the advantages of the drive to an internet zero globe."

Each solar project is being designed with single-axis tracker innovation as well as bifacial crystalline modules to optimise land use as well as reduce their impact.

Storage systems will be applied along with the solar projects to integrate sustainable generation with adaptable result, giving stability and regularity response to the grid.