They plan to construct a portfolio of solar projects that could power up to 100,000 homes per year, supporting Low Carbon and Macquarie Capital’s joint aim to accelerate and deliver renewable energy sources in the UK.
Through the collaboration, Macquarie intends to provide construction funding to developed, investment-ready renewable energy projects.
The first phase of the collaboration will total 25.7 MWp with an investment of up to £29 million to fund the construction of three ground mounted photovoltaic (PV) solar projects, two based in Cornwall and one in Wales.
“This transaction highlights the continued and rapid growth of Low Carbon’s business, following on from the successful development, construction and operation of over 160 MW of solar parks we have invested in so far,” said John Cole, chief investment officer at Low Carbon. “Low Carbon aim to direct investment into projects that not only provide returns to investors, but also offer a sustainable energy alternative to fossil fuels. We have a pipeline of future projects under development and look forward to continuing our successful collaboration with Macquarie Capital with the aim of making an impact on climate change.”