Anesco and Gresham House join forces for £100M solar farm rollout

Anesco and Gresham House are embarking on a £100M solar rollout that is expected to see 200MW of ground-mounted projects installed over the next three years. Asset manager Gresham House will fund the portfolio, which will comprise sites ranging in size from 20MW to 50MW generation capacity.

All engineering, procurement and construction will be handled by Anesco, with the company also providing long term operations and maintenance. Construction of the first site is expected to commence later this year.

The agreement forms part of a long-standing relationship between the two companies. Last year, this saw Gresham House purchasing its first subsidy free site, a 12MW solar farm from Anesco for one of its renewable energy funds.

Mark Futyan, Anesco chief executive, said: “Having built a 1GW solar pipeline in the UK, we look forward to collaborating with partners such as Gresham House, to increase the country’s renewable energy supply.”

Wayne Cranstone, Gresham House investment director, said: “By building on our existing relationship with Anesco we are securing access to a quality pipeline of unsubsidised assets developed by one of the leading developers in the country. At Gresham House we take sustainable investment seriously. This portfolio provides new renewable energy generation to support the UK’s net zero carbon emissions targets and its biodiversity plans align with our wider ESG objectives. Anesco’s ability to develop, build and operate these assets in a sustainable way while delivering strong returns for our investors makes them an ideal partner for us”.

Established in Reading in 2010, Anesco has developed over 100 solar farms and energy storage assets. Its  renewables operation and maintenance arm has more than 1GW of renewable energy under management.

Read New Power’s interview with Mark Futyan here.