(Image: Soonthorn - stock.adobe.com)
A major solar energy project near York has been acquired and is now under construction.
Hessay Solar was purchased by funds managed by London-based investment firm Triple Point, which specialises in funding renewable energy projects, from Recurrent Energy, a subsidiary of Canadian Solar.
The 61.3ha site is expected to generate enough electricity to power around 14,100 homes annually.
Jonathan Hick, head of energy transition at Triple Point, said: "The acquisition of Hessay from Recurrent is an exciting milestone.
- Solar farm near Hessay and Rufforth outside York gets go ahead
- Hessay Solar Ltd seek 61.3ha scheme between Hessay and Rufforth
- Solar2 plans solar farm between Hessay and Rufforth
- Yorwaste application for solar farm recommended for approval
"It reflects our strategy of securing ready-to-build sites with near-term grid connection dates and attractive long-term contracts to accelerate the delivery of renewable energy infrastructure.
"Construction has already commenced and we look forward to seeing the site become operational at the end of next year."
The project is scheduled to connect to the grid in the second half of 2027.
It was awarded a Contract for Difference (CfD) by the UK Government in Allocation Round 6, securing 15 years of inflation-linked revenue.
The solar farm also aims to deliver significant environmental improvements, including a 63 per cent increase in habitat units, a 91 per cent boost in hedgerow units, and a 29 per cent rise in river units through hedgerow planting, wildflower meadows, and grassland enhancement.
Dylan Marx, CEO at Recurrent Energy, said: "This transaction reflects our continued ability to bring well-conceived, environmentally responsible projects to a stage of readiness that generates real value for both investors and host communities.
"The Hessay Solar CfD, secured in the Sixth Allocation Round, further underscores the quality and long-term value of this asset.
"We are particularly proud of the biodiversity outcomes achieved at the project, which significantly exceed regulatory requirements, and we look forward to witnessing the project’s progress towards energization."
This marks the second solar acquisition completed by funds managed by Triple Point this year, following the acquisition of a 28MW solar project in Essex in January.