daily · Clean Energy

OnPath Energy agrees sale of Barnsdale Solar Park to Octopus Renewables Infrastructure Trust

OnPath Energy has agreed to sell its Barnsdale Solar Park in West Yorkshire to Octopus Renewables Infrastructure Trust, with the project able to power up to 19,000 homes a year and deliver a 106 percent biodiversity net gain.

OnPath Energy has agreed the sale of its Barnsdale Solar Park in West Yorkshire to Octopus Renewables Infrastructure Trust plc (ORIT), a London-listed diversified renewables infrastructure company managed by Octopus Energy Generation. The transaction remains subject to closing conditions.

OnPath has spent the last 18 months building the solar park, which sits between Kippax and Allerton Bywater east of Leeds. Once operating, it will be able to generate enough electricity to meet the annual requirements of up to 19,000 family homes.

A community fund established as part of the development is expected to receive approximately 1 million pounds in contributions over the life of the project, supporting local community groups, voluntary organisations and environmental projects.

The project's ecology commitments include a 106 percent biodiversity net gain, described by OnPath as the biggest biodiversity increase for any renewable energy project in Leeds to date and more than ten times the expected outcome for a project of this type.

For ORIT, the acquisition adds a newly built UK solar asset to its diversified portfolio. For OnPath, the sale recycles capital from a completed development-stage project while construction commitments, the community fund and the biodiversity plan carry over with the asset.

Official source: onpathenergy.com ↗