Macquarie invests £275m in UK solar power

Macquarie Asset Management has announced that it is the sole lender in a £275 million financing of solar power plants in the UK.

The 365 MW portfolio is comprised of 24 ground-mounted solar photovoltaic plants located across England and Wales. It produces electricity to power the equivalent of more than 90,000 homes each year whilst helping to avoid approximately 3300 kilotonnes of carbon dioxide equivalent emissions over the remaining lifetime of the portfolio.

The portfolio is largely owned and operated by Vantage RE, a UK-based renewable energy investment and asset management firm owned by Bursa Malaysia-listed electricity utility Tenaga Nasional Berhad.

Tom van Rijsewijk, a Managing Director at Macquarie Asset Management, says, “Access to institutional savings pools will be key if the UK is to continue the build-out of clean generation capacity and deliver on its target of achieving net zero emissions by 2050. This refinancing is a perfect demonstration of this investment theme in action, providing Vantage Solar UK with the long-term financing it needs to deliver on its strategy whilst providing our clients with a sustainable investment opportunity that contributes directly to the low-carbon transition.”