Macquarie’s Green Investment Group (GIG) and Enso Energy have signed a joint venture to establish an initial 1GW of subsidy-free solar and battery storage capacity in the UK.
The subsidy-free solar developments will be backed by Power Purchase Agreements (PPAs), media reports said.
Ian Harding and Andrew King, co-founders of Enso Energy, told the media, “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.”
It is reported that each project is specially designed to enhance the biodiversity of the site, media reports said. In fact, Macquarie, GIG and the Green Investment Bank have been involved in 7.5 GW of renewable energy projects in the UK. That said, Enso Energy has developed more than 1.5 GW.