Danish investor Copenhagen Infrastructure Partners (CIP) and developer elements Green have scored a platform finance agreement of € 80 million (£ 69.5 million).
According to the agreement, the funds will be used to develop the 13GW pipeline of elements of Solar and Battery Energy Storage System (BESS) projects. The financing was structured through CIP’s Green Credit Fund I (CI GCF I). Launched in February 2022 with € 320 million in seed capital, CI GCF I achieved his goal of € 1 billion at Final Close in October 2023.
The financing will be used in a diversified pipeline, with yields aimed at development, construction and acquisition.
James Gates, CIO at Elements Green said that the partnership with CIP “is necessary to accelerate and expand the project pipeline of the company, while retaining long -term control and ownership” as Green progresses to become an independent power producer (IPP).
Last year Elements Green revealed plans to transform its 800 MW Zonne -Energy factory in Newark, Nottinghamshire into the Great North Road Solar and Biodiversity Park. The company collaborated with the RSPB, Sherwood Forest Trust, Nottinghamshire Wildlife Trust and the Trent Rivers Trust to ensure that the Great North Road Solar Park provides environmental benefits alongside clean energy. To display this bet, the project was renamed ‘Great North Road Solar and Biodiversity Park’.
As part of this vision, the company also announced that the site would be ‘the largest solar farm in the UK’ to record grazing, with nearly 4,000 sheep that are expected to manage vegetation in the park as soon as it became operational in 2027 – with the herd that may grow up to 9,000 after lambs.
According to the website of the planning inspection, the Great North Road project is now in the acceptance phase of the approval process.
This Article appeared for the first time On our sister sitePV Tech.
