A deal has been agreed to build the largest community-owned solar park in the UK, which will generate 18GWh of electricity per year.
Renewable investment company Low Carbon has struck an agreement with Oxfordshire-based social enterprise Low Carbon Hub for the rights to its 19MW solar park in the village of Arncott.
Low Carbon says once built the Ray Valley Solar project will produce enough clean electricity to power more than 6,000 homes, making it the largest community-owned solar park in the UK.
Ray Valley, which is anticipated to comprise 45,000 solar panels, is expected to prevent more than 4,000 tonnes of Co2 being emitted annually.
The company secured planning permission for the solar park in May and will remain involved in the construction and long-term management of the site on behalf Low Carbon Hub.
The deal marks a key milestone in Low Carbon’s 4GW renewable energy pipeline as the first full-service transaction and first subsidy-free project for the company.
It will form part of Project Local Energy Oxfordshire (LEO), a smart grid trial. Once operational, the park will provide an “anchor load” of clean electricity generation needed to demonstrate the potential of the coordinated use of local generation, storage and demand in decarbonising the energy system.
Commenting on the deal Low Carbon chief executive Roy Bedlow said: “Delivering renewable energy at scale is a key Low Carbon objective and we are delighted to partner with Low Carbon Hub to make Oxfordshire’s community energy and smart grid ambitions a reality.
“This is our first subsidy-free solar project and we look forward to our long-term involvement through asset management to maximise the renewable energy output of the site.”
Low Carbon Hub has reopened its community energy fund to finance the project and is inviting investment up to £100,000, with more than £250,000 being pledged before the fund opened.
Barbara Hammond, chief executive of Low Carbon Hub, said: “We are so thrilled to be building our first ever ground mount solar park, which will have a significant impact on the amount of green electricity produced in Oxfordshire.
“We are committed to putting community energy at the heart of the new zero carbon energy system and are so excited to open up the Community Energy Fund for new investment to enable people to own part of this exciting project.
“We share a common goal and ethos in tackling climate change with Low Carbon, and we can’t wait for this project to be realised.”