L&G NTR Clean Power (Europe) Fund has announced the acquisition of Fair Oaks Renewable Energy Park, a turnkey solar and BES project in Nottinghamshire, England.
The Fair Oaks project consists of a 75.4 MWp solar array and a 49.9 MW/99.8 MWh battery energy storage system (BESS), and was developed by Ridge Clean Energy Ltd. Through the transaction, the Fund will work with Ridge to realize the project.
The news comes as NESO announces more Gate 2 connection offersafter delays in the body’s original timeline.
The fund was launched in 2025 as an Article 9 fund under the European Union’s Sustainable Finance Disclosure Regulation (SFDR) and is a joint initiative of asset manager Legal & General Investment Management (LGIM) and European sustainable energy company NTR.
The transaction with Fair Oaks was completed by NTR on behalf of the Fund and marked a new relationship between NTR and Ridge. Fair Oaks already has an offer for grid connection and planning permission, as well as a secured Contract for Difference, meaning construction is likely to start in 2026. The expected commercial operation date is planned for early 2028.
Michael Barrie, Head of Real Estate and Infrastructure – Private Markets at L&G, commented: “As the Fund’s second investment in the UK, following its existing exposure to offshore wind, Fair Oaks adds to its diversified presence in the European market.”
NTR’s announcement emphasizes the importance of the project’s local impact, citing both a “community-led approach” to site development and a goal to reduce strain on the electricity grid.
Anthony Doherty, Chief Investment Officer of NTR, said: “Fair Oaks is particularly attractive as a hybrid solar and BESS asset that can play a critical role in both stabilizing the electricity grid and accelerating the transition to reliable, clean energy.”
Ridge Clean Energy Ltd CEO Marjorie Neasham Glasgow echoed Doherty’s statement, adding: “Ridge is proud to be working with NTR to deliver the next phase of Fair Oaks, which will create meaningful local benefits and help landowners make the most of their resources.”
Glasgow continued: “This approach aligns with Ridge’s perspective that we are best placed to achieve the Government’s 2030 targets if we add long-term value to the local environment, and we look forward to working together.”
L&G NTR acquired a large Irish solar and storage portfolio last year.
