Solar PV developer Aura Power has announced that it has successfully obtained the financing for his third British solar project.
The Grimsby Solar Farm, located in Noordoost -Lincolnshire, has completed a generation capacity of 49.9 MW once. The senior debt facility, the size of which has not been revealed, is provided by Rabobank. The Dutch multinational banking company also recently provided financial packages for the other upcoming solar projects of Aura Power, after he had agreed a £ 44 million debt facility in October 2024 for the 49.9 MW Kemble Solar Farm of Aura Power in the 49.9 MW Kemble Cester; More recently, the two companies corresponded to a £ 33.1 million financing deal to develop the 40 MW Lane Solar PV energy plant, based in Darlington, County Durham.
All three Rabobank and Aura Power projects have been awarded agreed financial deals for the Contracts of the British Government for Difference (CFD) in the 2023 auction round, allocation of round 5 (AR5). Provisional construction work On the new substation of the Grimsby Solar Farm, which will support the export of energy from the project, have already started, with the primary construction that starts in the coming weeks. The last energy of the Grimsby Solar PV energy center is the target for the beginning of next year.
Aura Power has a 0.5 GWP sun pipeline in the UK, which wants to have built it by the end of 2028. In total, the company, which is located in Bristol, Zuidwest -Engand, has a Global Solar and Battery Energy Storage System (Bess) -pipeline of approximately 12 GW.
Ben Moore, director at Aura Power, said that the company is currently in the middle of a “really exciting time” and added: “After starting the company 12 years ago, we were pleased to build an operational portfolio of more than half a GW of Zonne assets in the UK”.
Jesse Leeuwendal, director of Rabobank, stated that the bank is proud to expand his relationship with Aura Power, adding that this latest deal “reflects our shared dedication to sustainable development and the energy transition”.
Rabobank increases its reach in the British solar and storage financing
Rabobank’s recent deals with Aura Power are just a few of the many recent deals that the bank has concluded to finance the ambitions of solar and storage developers in the UK. Rabobank recently committed financing in the direction of the solar development feeding of Aukera Energy in a £ 135 million deal that will be used to finance the construction of five British solar projects with a combined capacity of 220 MWp.
Last month, BESS company Field provided a £ 42 million non-recourse loan from Rabobank and ING to support the rollout of 125 MW BESS projects in England and Scotland, shortly after he had supported Enray Power Reach Financial Close for the Camblesforth Solar Farm, a 68.5 MWP Solar.
