2022-04-08 08:37:02
NextEnergy Solar Fund, the specialist solar power renewable energy investment company, has announced that it has commenced construction of Whitecross, a 36MW, subsidy-free utility solar plant, located in Lincolnshire. The original construction date of the asset was deferred from H2 2021 due to material volatility in the solar PV module supply chain post covid which has since stabilised. The asset is now expected to be energised during the first quarter of 2023 and will generate electricity for approximately 10,000 households' yearly electricity consumption with renewable power.
Whitecross will join the Company's other three operating subsidy-free solar plants, Staughton (50MW), High Garret (8.4MW), and Hall Farm 2 (5.4MW), which together with Whitecross comprise c.100MW of NESF's 150MW target in subsidy-free solar capacity.
Both the Engineering, Procurement and Construction ("EPC") contractor, and the solar PV module supplier have been selected and secured for the build.
Following a rigorous selection process, NESF selected Jinko Solar to supply solar modules to Whitecross, having agreed to the adoption of NESF's Supplier Code of Conduct policies and procedures. NESF continues to implement high Environmental, Social, Governance ("ESG") and technical standards within its supply chain process.
The plant will be constructed by EPC GEMEC UK LTD who have a solid track record in successfully completing post-subsidy solar plants for NESF, having previously constructed Staughton (50MW), High Garrett (8.4MW), and Bosworth (5.4MW).
Whitecross will benefit from the latest available solar technology from Jinko Solar called "N-type solar cells", a bi-facial solar technology offering superior power density and efficiency with a recently set world record for solar cell efficiency. NESF will receive long-term benefits from this technology as it decreases the land footprint necessary for Whitecross's installed capacity, optimising land use and performance of the solar plant. Crucially, Whitecross will rapidly bring extra power capacity to the market and contribute to the reduction of fossil fuels used for power generation in the UK, against the current backdrop of unprecedented and sustained higher power prices.
NextEnergy Capital, the Company's investment manager, is one of the leading constructors of post-subsidy solar in the UK market. NextEnergy Capital continues to push forward with the next wave of solar deployment in the UK, delivering tangible progress in the UK's drive to Net Zero power production.