Voltalia Secures £20 Million to Build UK Solar Park

• Voltalia has secured a £20 million financing package from Triodos Bank UK to fund its 34 MW Eastgate solar park in North Yorkshire, delivering renewable power under a 15-year PPA.

Voltalia SA has locked in up to £20 million in financing from Triodos Bank UK to bring its 34 MW Eastgate solar project in North Yorkshire to life. The debt package includes an £18.9 million senior loan plus a €1.1 million reserve facility, ensuring uninterrupted funding through construction.

Construction on the Eastgate site—named after Scarborough’s historic marketplace gateway—began after planning approval in mid-2022. Voltalia plans to install 62,500 photovoltaic panels across gently rolling farmland, aiming for commercial operation by the end of 2025. Once active, the array will produce roughly 34,000 MWh each year, enough renewable electricity to power about 12,500 average British homes.

A 15-year power purchase agreement with the Co-op guarantees offtake for the project’s output. Under this arrangement, the co-operative’s network of more than 170 food stores and over 500 funeral care homes will draw up to 7.5 percent of their annual electricity needs directly from Eastgate. This stable revenue stream strengthens Voltalia’s financial profile and supports the Co-op’s commitment to reduce its carbon footprint.

Triodos Bank UK, renowned for its sustainable lending ethos, called the facility “crucial support during the project’s construction phase.” For Voltalia, the deal underscores growing investor confidence in community-focused renewables that deliver both environmental and social value. The company’s Chief Financing Officer noted that this partnership will pave the way for further solar investments across the UK.

Voltalia operates a diverse mix of wind, solar, hydro, and biomass assets across Europe, Latin America, Africa, and Asia. The Eastgate venture marks a key milestone in its UK expansion strategy, demonstrating how green finance can accelerate clean-energy deployment. By pairing private sector capital with ethical banking, Voltalia and Triodos are showcasing a replicable model for sustainable infrastructure development.

As governments and businesses race to meet net-zero goals, Eastgate offers a blueprint for large-scale solar projects that balance commercial viability with climate benefits. When the park comes online, local communities will see new job opportunities during construction, and the Co-op will begin sourcing guaranteed clean power—a tangible step toward a greener energy future.