Innova Completes Parkhill Energy Extension Sale, Officially Handing Ownership to Alphareal

Innova has announced the sale of the Park Hill Energy Extension, a fully consented 12 megawatt-peak (MWp) solar development near Arbroath, Scotland, to AlphaReal. The Park Hill Energy Extension is an expansion of Park Hill Solar, a 4 MWp operational Feed-in Tariff (FiT) project that Innova had previously acquired, optimized, and sold to AlphaReal as part of the Innova Energy portfolio in 2022.

The Park Hill Energy Extension was awarded a Contract for Difference (CfD) in allocation round 6 (AR6) in September 2024, along with five other solar projects developed by Innova. This CfD award ensures long-term contracted and inflation-linked revenue, offering stability and predictability for the project’s financial performance. Daniel Mushin, Chief Investment Officer at Innova, expressed pride in the transaction, stating that the divestment reflects Innova’s strong track record in the renewable energy sector. He emphasized that the sale demonstrates the company’s commitment to a collaborative development approach that has contributed to the successful completion of the project extension.

Innova is a leading renewable energy business with offices in London and Cheltenham and more than a decade of experience in the UK’s renewable energy market. The company focuses on developing, building, and operating large-scale, innovative, and environmentally sustainable energy solutions across multiple technologies. It is one of the UK’s largest developers of renewable energy projects and data centres, with more than 50 Distribution Network Operator (DNO) and Transmission-connected sites under development or in operation across England and Wales. These sites represent a combined solar and storage capacity exceeding 8 gigawatts (GW) and over 7 GW of data centre capacity.

Innova provides an integrated approach to renewable energy projects, covering every stage of development and operation. Its expertise spans planning, securing grid connections, project rights development, financing, construction, asset management, power purchase agreements, and long-term operations, positioning the company as a key player in driving the UK’s transition to cleaner energy.