ScottishPower Acquires 800MW Solar Portfolio in UK

• ScottishPower, owned by Spanish energy company Iberdrola, has authorized 2 offers to get 17 solar photovoltaic or pv (PV) projects in Britain, with an incorporated capacity of more than 800 megawatts (MW), the firm stated on Friday.

The offers take ScottishPower's market share of Britain's solar industry to 9% from 2%, the company stated.

ScottishPower has actually gotten 12 solar PV projects with a combined capacity of 519 MW and also 70 MW of energy storage space capacity from renewables developer Elgin Energy and the rest of the solar projects from developer Lightsource BP.

The projects in England, Scotland and also Wales should be operational by 2025 and will provide sufficient clean energy to power more than 220,000 houses, ScottishPower claimed. Commissioning of the sites will certainly call for investment of around 500 million pounds ($ 687 million), it included.

" This boost to our solar generation pipe complements our existing development prepare for wind and also storage," claimed Lindsay McQuade, chief executive of ScottishPower Renewables.

" With plans to invest near 4 billion pounds by 2025, increasing the volume of eco-friendly electricity we produce, we are taking action on a daily basis to deliver on our dedication to deploy more renewables ... to amaze how we live, function and also take a trip," she included. ($ 1 = 0.7282 pounds).

Along with this, ScottishPower is likewise involved with a significant wind power project in Britain. At the Global Investment Summit organised last year by UK Prime Minister Boris Johnson simply 2 weeks prior to the begin of COP26 in Glasgow, Iberdrola revealed its plans to invest ₤ 6 billion in establishing overseas wind complex East Anglia Hub in the UK, the firm's most significant investment throughout the globe and also one of the largest offshore wind projects worldwide.

Glasgow is the head office for ScottishPower, which was the major partner of this summit. Iberdrola's chairman, Ignacio Galán, verified that this new investment plan would certainly join a record ₤ 10 billion investment earmarked by the group in its 2020-2025 plan, enabling it to double its sustainable generation capacity as well as drive decarbonisation in the United Kingdom.