News Article

Ingenious Acquires New Solar PV Plant And Multi-million Finance Agreement


Ingenious Estate Planning (IEP), the discretionary fund management service (the Service) managed by alternative investment manager Ingenious, has announced two developments which will contribute considerably to the growth of its renewable energy capabilities.

Through its investee company Ingenious Renewables Energy Enterprises Limited (IREEL), IEP has completed the acquisition of a 5MW ground mounted solar plant, Morton Wood Solar PV Plant (Morton Wood), from Solarig, the Spanish EPC contractor. The plant, located in Worcestershire, is projected to provide electricity to almost 1,300 average UK households and will save in the region of 2,200 tonnes of CO2 per year. It is also expected to receive 1.2 ROCs/MWh (Renewables Obligation Certificates) from the UK government enabling the plant, and subsequently the Service, to benefit from government-backed income for the next 20 years. Revenue will also be generated from the sale of electricity through a long-term bank approved Power Purchase Agreement with NEAS Energy.

This is the third ground mounted solar PV plant that IREEL has acquired from Solarig in just six months.  Ingenious Infrastructure's portfolio of owned and/or managed ground-mounted solar projects now totals 120MW, producing over 115,000 MWh of solar power across the UK. 20MW of these projects are managed within the IEP Infrastructure portfolio. IREEL is currently negotiating the acquisition of another 10MW from Solarig.

The team also announces it has signed a £15 million long term finance facility with German bank, BayernLB. The agreement will unlock capital to aid the future development and acquisition of additional solar PV plants in the IEP portfolio.

Commenting on the deal, Karin Schramm, Senior Director, BayernLB, said "We have been working in partnership with Ingenious for a number of years, providing Ingenious Infrastructure with over £100 million of funding towards the development of renewable energy projects across the UK. With the team utilising the funding to deliver impressive projects such as Cowdown, a 40 MW solar PV plant in Hampshire, we remain confident in Ingenious' collective experience and expertise as a market leader in this space."

Commenting on both milestones, Roberto Castiglioni, Investment Director, Ingenious, said "The purchase of Morton Wood and the signing of the long term finance facility with BayernLB represent significant achievements for the IEP Infrastructure team as we continue in our efforts to bring renewable energy to thousands of households. Both transactions demonstrate our commitment to financing, developing and operating high quality investment opportunities in the UK which will bring value to shareholders and our IEP clients."

Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
FRV And Harmony Energy To Develop Second UK Utility Scale Battery Project
TLT Advises Santander On 30MW Flagship Battery Storage Project
Power Roll Trials Solar PV To Power Up Himalayan Villages
Ingenious Invests In Electric Vehicle Charging Firm
UK'S Largest Battery Ready To Balance The Grid
Tandem PV Devices Feel The Heat
Sunstore Solar Launches WattGrid, A New Range Of Turnkey Off-grid Power Systems
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
Everoze Creates Skyray To Design And Engineer Great Solar PV Projects
TLT Advises Innova Energy On £30m Refinancing Of 57 MW Solar Portfolio
New Innovation Set To Change Renewable Energy Market
The Smarter E South America Postponed To October 18-20, 2021
Low Carbon Develop UK’s Largest Community-owned Solar Park
Habitat Enerdy Enters Balancing Mechanism With Largest Battery
Sonnedix Named ESG Global Solar Power Generation Sector Leader By GRESB
UK Green Tech Company Myenergi To Double Workforce By 2021
Sharp Launches New 440W Half-cut Cell PV Panel
SOLARWATT Links With Easy Roof To Provide Building-integrated PV For Better-looking Buildings And Smart EV Charging
FIMER Powers UK Largest Rooftop Solar Project
Greencoat Renewables Announces First Transaction In Nordic Market
Solar Power As Rental Offer Launched By Aggreko
NextEnergy Capital Acquires Its First Asset In Portugal 17.4MWp Solar PV Project
Search the news archive

To close this popup you can press escape or click the close icon.
Register - Step 1

You may choose to subscribe to the Smart Solar Magazine, the Smart Solar Newsletter, or both. You may also request additional information if required, before submitting your application.

Please subscribe me to:


You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
{taasPodcastNotification} Array
Live Event