UK-based investment manager AlphaReal has acquired a fully consented 12-megawatt (MW) solar development near Arbroath, Scotland, expanding its existing renewable energy portfolio in the region, the company said on Thursday.
The new project will be developed as an extension to a 5MW operational feed-in tariff (FiT) site acquired by AlphaReal in 2022 through its purchase of assets from Innova Energy. Construction is expected to begin shortly, with completion and energisation scheduled for 2026.
The scheme secured a Contract for Difference (CfD) in the UK government’s sixth allocation round (AR6), providing long-term, inflation-linked revenue.
AlphaReal also secured three additional CfD contracts in AR6, administered by the Department for Energy Security and Net Zero.
“The addition of this asset enhances the value of the existing site through ongoing operational synergies,” said Hugh Kennedy, development director at AlphaReal. “It is fully aligned with AlphaReal’s strategy to deploy capital into greenfield renewable energy assets that provide additionality, whilst our investors benefit from a long-term, de-risked income stream.”
Once operational, the project is expected to supply electricity to around 4,300 homes annually and offset approximately 2,400 tonnes of carbon dioxide emissions.
“Greenfield sites such as these form an important part of our renewables strategy, as they provide new renewable energy capacity to the grid, contributing to the UK’s Clean Power by 2030 goal,” added Maria Vaggione, associate director for sustainability at AlphaReal.
AlphaReal has been active in the renewable energy sector for over a decade, with a focus on long-term infrastructure and sustainability-linked investments.
