Enviromena has secured £3.7mn ($4.71mn) in financing from the energy team at Close Brothers to support the construction of the Rhigos Road solar plant in South Wales. The facility, with a capacity of 8.99 megawatts-peak (MWp), will be located in Rhigos, near Aberdare, close to Enviromena’s existing Bryngolwg solar plant.
The financing includes a development and term loan facility aimed at covering the plant’s construction costs. The project forms part of a £200mn ($254.70mn) partnership established between Enviromena and Close Brothers in 2023. This follows a previous £30mn ($38.20mn) agreement to fund the Medebridge solar project in Essex.
A new milestone in a strategic partnership
The Rhigos Road solar plant, currently under construction, is expected to be operational by January 2026. Once completed, it should generate enough electricity to supply approximately 3,948 homes annually. The project is designed to integrate into the local environment while contributing to regional power capacity.
Chris Marsh, Chief Executive Officer of Enviromena, stated that this financial close marked “a significant milestone in our journey to decarbonise energy production in the UK.” The company operates internationally and manages over 300MW of renewable energy projects.
Growth aligned with future energy capacities
Enviromena is currently managing a portfolio of projects representing more than 3GW of development capacity in the UK and Italy. The aim is to integrate these assets into power networks to meet growing demand and stabilise long-term energy supply.
Richie Kidd, Head of Sales for the energy team at Close Brothers, noted that this transaction reflects “the bank’s commitment to supporting innovative projects in the energy sector.” The established partnership is aimed at financing projects with viable technical and financial guarantees in regions identified as strategic.
