– ISG Renewables acquired Newbold Pacey solar farm from Innova’s pipeline
– The site will power 10,616 homes and save 11,466 tpy of carbon dioxide
– This is the third acquisition by ISG, following projects in Wales and Lincolnshire
ISG Renewables, a joint venture between Innova Renewables Ltd and Greencoat UK Solar, has acquired the Newbold Pacey solar farm in Warwickshire. This 28.7 MWp solar farm is set to energize later this year, producing enough energy to power over 10,000 homes and reducing carbon dioxide emissions by over 11,000 tons per year. The site also includes a biodiversity strategy to benefit local wildlife. This acquisition marks the third by ISG, following previous purchases of solar farms in Wales and Lincolnshire. Innova’s Investment Manager, Hassan Bashir, expressed enthusiasm for the deepening partnership and the contribution to the UK’s journey to net zero.
Matt Tingle, Investment Director at Schroders Greencoat, emphasized the importance of this acquisition in furthering the JV’s goal to develop new solar projects in the UK. He highlighted the reliable power generation and cashflows that these projects bring to investors, supporting UK energy security and net-zero commitments. The joint venture’s commitment to renewable energy development is evident in their strategic partnerships and acquisitions. This acquisition of the Newbold Pacey solar farm aligns with broader industry trends towards sustainable and eco-friendly energy solutions.