Lynher Energy, in partnership with Ethical Power, recently signed a Corporate Power Purchase Agreement (CPPA) to supply solar power to the Twitch Hill solar farm. Located in Shropshire, England, this 27MW solar farm represents a significant step forward in the transition to renewable energy sources. The structure of this CPPA, in the form of a physical CPPA, guarantees a reliable supply of solar energy for the next 15 years. In recent years, many solar energy projects have been developed in the UK, as evidenced by BSR’s approval to build two solar farms in East Suffolk.
Construction of Twitch Hill has already begun, with commissioning scheduled for September 2024. The site covers an area of 36 hectares and uses unused Grade 3b land. This project is designed to optimize energy production while integrating sustainable practices.
Economic and financial impact
Once operational, the Twitch Hill solar farm will enable Lynher Energy to consolidate its position in the renewable energy market. Chris Sparrow, Director of Lynher Energy, said, “This CPPA represents another step forward in realizing our ambition in renewable energy. Working with a FTSE100 company strengthens our ability to make meaningful contributions while delivering value to our stakeholders.”
This strategic partnership with Ethical Power ensures that the project benefits from the expertise needed to guarantee its long-term success. Ethical Power was responsible for the engineering, procurement, construction, operation and maintenance of the Twitch Hill solar farm.
Advice and financial support
Lynher Energy was advised by Osborne Clarke, while the lessee was advised by Amber and EY, underlining the importance of legal and financial expertise in such projects. This collaboration strengthens Lynher Energy’s position as a leader in the renewable energy sector, with a solid, sustainable business model.
The Twitch Hill solar farm is a clear example of how companies can work together to create sustainable projects that benefit not only the environment but also the local economy.
