Ecotricity, a company founded by eco-tycoon Dale Vince, is seeking investors for a massive solar park project in Lincolnshire, England. The project, approved by Energy Secretary Ed Miliband earlier this year, aims to generate approximately 600MW of solar power and 400MW of battery storage capacity, making it one of the largest renewable energy projects in Britain. The development, designated a Nationally Significant Infrastructure Project by the government, is expected to become operational in 2028, with a grid connection already secured.
Ecotricity has hired KPMG to explore talks with potential investors and buyers for the project, which is described as “shovel-ready” and has the potential to be the largest onshore renewable initiative in Britain. The company is open to retaining a minority stake, but is prioritizing the sale of 100% of the project. The goal is to complete a deal during the third quarter of the year.
Dale Vince, the founder of Ecotricity, emphasized the significance of the project, stating that while it’s a massive opportunity, the required funding is substantial, and partnership is necessary to make it happen. The project is expected to have a major impact on the UK’s renewable energy sector, and its completion could contribute significantly to the country’s efforts to reduce its carbon footprint.