ScottishPower to acquire 800MW UK PV

Jan 14, 2022 03:30 PM ET
  • Two deals authorized with Elgin Energy for 12 projects and Lightsource BP for five centers
ScottishPower to acquire 800MW UK PV
Image: Iberdrola

Iberdrola's UK subsidiary ScottishPower has authorized 2 deals to acquire 17 solar projects in the country, with a combined capacity of more than 800MW.

The contracts have been ended independently with Elgin Energy, which possesses 12 projects, and also Lightsource BP, which controls the rest.

The projects, throughout England, Scotland and Wales, remain in advanced stages of advancement and also will certainly be operational by 2025 with a complete investment of around ₤ 500m (EUR600m).

The deal enhances the Iberdrola's UK solar market share to 9% from 2%, the company said.

The Elgin Energy projects are at the pre-construction stage and additionally consist of a co-located 70MW battery solution that goes to a sophisticated stage of development.

It is expected that the projects will be functional between 2023-2025.

With these 2 deals, the business has shut 30 business purchases since the start of 2020, consisting of 17 procurements which have actually enabled entrance to new markets such as Sweden, Ireland, Poland, Japan as well as Australia.

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