A 28.7MWp solar farm being developed near Wellesbourne, Warwickshire, has been acquired by ISG Renewables, a joint venture between Innova Renewables and Greencoat UK Solar.
The Newbold Pacey Solar Farm is set to energise later this year with the development and construction of the project managed by Innova. The site will incorporate a bespoke biodiversity strategy, creating or enhancing new and existing habitats.
The acquisition of the solar farm is part of ISG’s ambition to finance, construct and operate 5GW of renewable energy capacity within the next three to five years. The joint venture’s solar and storage pipeline currently includes 1.5GW of capacity.
To achieve this, the joint venture has secured several solar parks across the UK. These include a 10MWp solar farm in Wales, which was energised in April 2023, and Bicker Fen, a 22.6MWp solar farm in Lincolnshire, which was energised in mid-March 2024.
In 2023, Innova also received planning permission from Nuneaton and Bedworth Borough Council for a 25MWp solar farm north-east of Coventry.
Hassan Bashir, investment manager at Innova, said: “We are delighted to announce the sale of our third project into our joint venture, ISG Renewables, with Schroders Greencoat. The acquisition of Newbold Pacey continues to strengthen and deepen our strategic partnership and contributes significantly to our shared goal of supporting the UK’s journey to net zero.
“On behalf of Innova, I would like to thank our legal advisers at TLT LLP and Morgan LaRoche for their support throughout the sales process.”
Innova continues to grow its solar portfolio
Solar developer Innova continues to develop utility-scale solar farms across the UK. As previously reported by Solar Power Portal in February, Innova secured planning consent for three solar projects, amounting to 61.5MW, across East Suffolk, Essex and Scotland.
The solar projects are Bucklesham Solar Park (25MW) in East Suffolk, Parkgate Farm Solar Park (22.5MW) in Essex, and Parkhill South Solar Farm (14MW) in Scotland.
The Bucklesham Solar Park received planning consent on 28 November 2023. The project will increase biodiversity by 97.9% for habitat units and 446.31% for hedgerows.
The second solar farm to gain planning permission was the Parkgate Farm Solar Park on 15 December 2023, following an appeal hearing on 12 December.
Innova’s final project to be awarded planning approval was the Parkhill South Solar Farm which is located 4.5km north of Arbroath and 1km east of Letham Grange. The project is Innova’s first to be approved in Scotland and will see a biodiversity net gain of 89% for habitats and 202% for hedgerows.
