Lightsource Invests in Utility Scale Power Plant

Renewable energy company Lightsource has this month invested in a ground-mounted photovoltaic power plant, which boasts a capacity of 8.4MWp, approximately 40 miles from Bristol.

The solar investor struck up a deal with ET Solutions AG, the German subsidiary of ET Solar Energy Corp, to purchase the Pyde Drove solar power plant, which was connected to the grid on March 27th and will be accredited under the 1.6 ROC initiative.

Lightsource and ET Solar recently signed a memorandum of understanding on a collaboration regarding 50MWp power plants, with chief executive officer of Lightsource Nick Boyle stating that "we firmly believe this project is the first of many projects our two companies will develop together in the very near future".

Dennis She, chief executive officer and president of ET Solar, made further comments on the matter, saying: "We are happy to work with Lightsource in the UK market. With the advantage of being a fully integrated one-stop solution service, we are able to provide cost-competitive investment-grade power plants for investors and funds in such mature markets like the UK."

This news comes after the British solar farm developer announced its intention to submit proposals for a solar farm on land near Bucks Cross, with the project promising to generate enough clean electricity to power the equivalent of over 1,000 local residences and create local job opportunities, while providing support for local businesses.

The site - known locally as Walland Farm - will see all historic hedgerows strengthened with native species in order to support habitats and local wildlife, with a Biodiversity Management Plan being drawn up.


Tags: Company News, Solar Industry News,