Global investment manager Quinbrook Infrastructure Partners announces the start of construction of Cleve Hill, the largest consented battery storage solar project in the UK.
Serving the needs of over 100,000 UK households
The Kent-based project is expected to be completed by the end of 2024 and will produce enough renewable energy each year to meet the electricity needs of more than 100,000 UK homes, contributing to the country’s carbon neutrality goal. The project is supported by a 15-year power purchase agreement and financing from a diverse group of lenders has begun.
Opportunities from the transition to “Net Zero
Quinbrook is focused on the opportunities arising from the transition to “Net Zero” in the UK and is committed to supporting local jobs and providing a range of tangible benefits to the local community. Cleve Hill is expected to support over 2,300 direct and indirect jobs over the life of the project and generate over £148 million in local socio-economic benefits.
The project will also dedicate 138 acres to habitat management to provide a net gain of over 65% in biodiversity. The fully inflation-indexed contracts offered by the power purchase agreement, like the fully inflation-indexed contracts secured by Quinbrook for its synchronous condenser portfolio, are relevant examples of the inflation protection sought by Quinbrook for its investments.
