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Gresham House is a specialist alternative asset manager managing PS7.3bn worth of assets. It acquired a 20MW solar plant from Anesco as part of a three-year partnership for development and construction that was valued at more than PS100mn.
The 200MW ground-mount solar partnership has now reached the fourth location, Beavor Grange, near Axminster in Devon. This follows the acquisition of two 20MW solar farm sites in Gloucestershire town Cirencester, and Alfreton in Derbyshire earlier in the year. It also follows the acquisition last August of 50MW Low Farm, Lincolnshire.
The Beavor Grange Solar Farm will cover just under 28 hectares. It will generate enough clean energy to power approximately 5,000 homes and help to reduce carbon emissions by around 4,500 tonnes annually. It will last for 40 years before it is returned to its original state.
Construction on the site will begin in early 2023. It is expected that it will take approximately 34 weeks. All engineering, procurement, and construction work will be handled by Anesco. The operations and maintenance teams at Anesco will monitor the operation of the solar farm once it is operational to ensure that it operates at its best.
Beavor Grange will be able to benefit from an advanced biodiversity program and significant ecological enhancements that are designed to support some the UK’s most endangered birds and wildlife.
Sarah Webb, Anesco’s Business Development Director, said,”Through our partnership, Gresham House is delighted to support the UK’s shift to cleaner and greener energy. Beavor Grange is our fourth large-scale solar project that has reached the investment-ready stage. We will continue to increase this number very soon.”
Wayne Cranstone, Gresham House Investment director, stated, “It’s great to purchase this latest project from Anesco. This site was carefully developed, with attention to biodiversity enhancement and quality construction. It also ensures efficient operation. We support new build solar in order to help the UK achieve self-sufficiency. Therefore, we were delighted to be awarded three Contracts of Difference for three solar parks in this partnership, which was part of the government’s CFD auction, AR4.”