Clean energy solutions company Enviromena has reached financial close for the development of its 70MW Medebridge Solar Farm in Essex.
The £30 million deal, made with Close Brothers Energy as part of a wider facility agreed in December 2023, includes a development and term loan facility. The facility will be used to fund construction and operation of the solar farm located near South Ockendon.
Once operational, the large scale project will generate over 71,000MWh per annum. Construction is expected to complete in the summer of 2025.
Enviromena CEO Chris Marsh said: “We’re delighted to announce financial close on the Medebridge project with Close Brothers Energy. Medebridge will make an important contribution to the UK’s net zero targets as well as benefitting the local wildlife and habitat over the next 40 years. We’ve forged a strong partnership with the Close Brothers Energy team and we look forward to working with them in the future.”
Richie Kidd, head of sales for the energy team at Close Brothers, said: “Having worked closely with the Enviromena team for a number of years, we’re delighted to have been involved from the outset in financing this large-scale solar development.
“Enviromena’s growth ambitions are always inspirational, and we look forward to continuing to support them as they look to deliver 500MW of solar power in the UK by 2026.”
Globally, Enviromena develops, builds, owns and operates renewable energy assets and manages over 300MW of renewables projects. It is working on a solar and storage pipeline of over 3GW of projects in the UK and Italy.
This financing marks an upturn for the clean solutions company which recently had its plans for a solar development in the New Forest National Park unanimously refused. The Medebridge project is being built on 175 acres of low-grade agricultural land.
Enviromena also recently secured planning permission for what it said will be its largest self-developed solar project, located in Dorset. The 42.43 MWp project had been in the planning process since November 2021.
