Triple Point, the private investment specialist, has invested in a company that on financial close will operate a ground mount UK solar PV farm. The company, Freshpower Ltd, has received HMRC Advanced Assurance for electricity generation from solar PV and intends to acquire, construct and operate a ground mounted solar PV farm in East Anglia.
Triple Point has been funding ground mount solar PV companies since 2013, with £21m of EIS funding completed so far for 4 plants.
The plant is on approximately 51 acres of land and has capacity for 44,000 panels, with an installed capacity of c.11MW. This level of installed capacity, at this location, generates enough power annually to power approximately 3,000 homes for a year.
The plant will earn revenues from both the generation of electricity (through ROC payments) and from the export of electricity to the grid. ROC revenues are inflation-linked via an established governmental framework.
Our funding in the solar sector is a further example of how Triple Point continues to target opportunities that create value for our investors.
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