Queequeg bags funding for 500-MW solar portfolio in UK

UK-based Queequeg Renewables has secured full equity funding for over 500 MW of solar projects it will develop together with recently established private equity business Energy Transition Partners (ETP).

The duo will work on the projects through a joint venture (JV) that they have set up in order to co-develop and market shovel-ready solar projects across the UK. The capacity is being proposed for England, Scotland and Wales, Queequeg said on Monday.

The ETP-QQR Energy Ltd venture will fully fund the 500-MW portfolio. It expects to shortly start planning the first batch of projects totalling 200 MW, while planning for the remaining schemes will be entered in 2022. Each site will deploy single-axis tracking technology and bifacial crystalline modules and will be coupled with battery storage capacity.

“Queequeg Renewables has a very strong track record, whilst the UK solar market offers a clear regulatory environment and a commitment towards increased renewable generation. This gives us great confidence in our strategic partnership and our ability to deliver a solar portfolio with good investor returns,” said Rodolfo Bigolin, managing partner of ETP.

The projects in question are part of Queequeg’s 1.3-GW solar photovoltaic (PV) pipeline, which includes individual schemes ranging between 10 MW and 50 MW. All projects in the pipeline will be developed without subsidies.

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