Low Carbon, Macquarie add two solar sites

The solar energy partnership between the two firms has moved into a second phase, adding 34 megawatts.

Low Carbon, the UK fund manager, and Macquarie Capital, an arm of Australian financial services giant Macquarie Group, have added two new sites to their growing solar energy portfolio – which now amounts to five sites in total.

Through their partnership, the firms have added two new English sites – one in Wiltshire and other in East Anglia – which will produce a combined 34 megawatts (MW) of solar power and provide energy for almost 10,000 homes per year.

Both sites are set to be operational in the first half of this year, with the Wiltshire site producing 13MW and the East Anglia site 21MW.

Low Carbon and Macquarie announced their collaboration in November last year, with Macquarie providing the construction funding for up to 300MW of solar projects. The first phase comprised three sites in construction, which will deliver 26MW in the first half of this year.

Mark Dooley, head of development capital at Macquarie, said the funding of the two latest projects within six weeks “demonstrates the effectiveness of the partnership model Macquarie has developed together with Low Carbon”.

Low Carbon invests in renewable energy developers and projects across the solar, concentrated solar power (CSP), wind and anaerobic digestion sectors. It currently has 160MW of UK solar assets funded and in construction or operation.