UK-based renewable energy developer Enviromena has secured construction financing from Close Brothers’ Energy team to deliver the 30-megawatt (AC) Steeraway solar farm in Shropshire, the company said.
The financing agreement allows construction to begin later this year on the fully consented project. Enviromena said the solar farm is expected to generate enough electricity to power more than 15,000 homes annually and avoid more than 8,000 tonnes of carbon emissions, with grid connection planned for late 2026.
Planning approval for Steeraway was granted in May 2023. The project will include biodiversity enhancements, landscape planting and continued agricultural grazing to support the surrounding countryside.
The site has been awarded a Contract for Difference in the UK government’s allocation round six, providing an inflation-linked revenue stream for 15 years.
“Achieving financial close on Steeraway marks another significant step in our mission to expand our UK solar portfolio and accelerate the transition to a low-carbon energy system,” Enviromena chief executive Chris Marsh said.
Marsh added that the partnership with Close Brothers supports the delivery of strategically important renewable projects that provide environmental and community benefits.
Close Brothers said the deal reflects its continued support for clean energy infrastructure. “Partnering once again with Enviromena on the Steeraway Solar Farm reinforces our commitment to supporting the deployment of clean energy infrastructure across the UK,” said Richie Kidd, head of deal execution for the bank’s energy team.
