GIG and Enso Energy will initially focus on grid-secured projects and are being preparing to submit the planning approval
Macquarie-owned Green Investment Group (GIG) has formed a joint venture with Enso Energy to develop a pipeline of solar and battery projects in the UK.
The joint venture aims to develop an initial 1GW of subsidy-free solar capacity across England and Wales that is expected to be one of the largest portfolios of its kind in the UK.
The solar projects are expected to be supported by power purchase agreements (PPAs).
Both the firms will initially focus on grid-secured projects, which are being prepared to apply for planning approval.
The joint venture will combine GIG’s specialist experience and investment capacity with Enso Energy’s expertise in project development in the UK.
The projects will use bifacial solar technology
GIG said that most of the projects will use advanced tracking and bifacial solar technology to ensure the energy produced per hectare is maximised.
The integration of solar farm with the battery storage technology will help the projects to provide more flexible output and meet the demand during peak periods, it said.
Green Investment Group Europe head Edward Northam said: “From our origins in the UK as the world’s first green investment bank, GIG has grown into a global green energy powerhouse while remaining steadfastly committed to accelerating the UK’s transition to a greener economy.
“The UK’s solar market holds huge potential to create green jobs and help the UK get closer to its aim of becoming a Net Zero economy.
“By combining GIG’s deep technical and financial capabilities with Enso’s highly experienced development team, our partnership has the skills and expertise to unlock that potential, bringing low-cost, low-carbon power to communities right across the UK.”
The firm said that each project is designed to significantly enhance the biodiversity of the site.
So far, Macquarie and GIG have supported approximately 7.5GW of renewable projects in the UK.